Cheng Mei Materials Technology's (TPE:4960) board approved a private placement of up to 100 million common shares or convertible bonds to raise funds and attract strategic investors.
The shares will be offered at no less than 80% of the reference price, according to a Monday Taiwan Exchange filing.
The shares will be subject to a three-year lock-up, the optical materials and components manufacturer said.
Shares rose about 5% recently.
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