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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.