WT Microelectronics Co., Ltd. (3036 TT) (“WT” or the “Company”) has successfully priced its GDSs offering of approximately US$341 million on April 9, 2024. A total of 17 million GDSs, representing 85 million common shares of WT, will be listed on the Luxembourg Stock Exchange.

This is the second GDSs offering that WT has completed in the last two years, demonstrating the ongoing interest and focus from the international capital markets toward the Company. In addition, the transaction has captured the favorable market condition as well as robust share price performance since WT’s acquisition of Future Electronics, which was announced in September 2023 and completed in April 2024. As a result of the transformational acquisition, WT has become a truly global electronic components distributor with end-to-end capabilities and a diversified geographic presence across Asia Pacific, the Americas and EMEA, enabling the Company to offer the highest level of services to suppliers and customers globally.

The book was covered immediately after the launch and over 10 times oversubscribed within couple hours. The strong demand momentum has allowed the bookrunner to tighten the discount range and price the transaction at US$20.08 per GDS, implying a 4.8% discount to the closing price of common shares traded in Taiwan on April 9, 2024. The transaction attracted high quality investors including sovereign wealth funds as well as international long-only investors. Nearly half of the GDSs were allocated to long-only investors that have deep understanding of the Company’s long-term competitive positioning.

“We are excited to see the level of investor interests in WT’s GDSs offering, which showed the high trust they have placed in our ability to transform the future of electronic components distribution ecosystem,” said Eric Cheng, Chairman and CEO of WT. “This GDSs offering marks a new chapter for WT after the strategic acquisition of Future Electronics, and provides additional financial flexibility for us to capitalize on the secular, long-term growth of attractive end markets.”

Citigroup Global Markets Limited acted as the Sole Global Coordinator and Sole Bookrunner for the offering.