Walsin Lihwa Corp. unveiled plans to raise NT$7 billion ($221 million) through a share sale while simultaneously increasing its investment in its Italian subsidiary, marking its latest push to expand its global steel operations.
The Taiwanese steel manufacturer will issue up to 400 million new shares, with proceeds earmarked for debt repayment, according to a company filing. The share price will be set later based on market conditions, with analysts estimating it at about 80% of the current market value of NT$23.35.
In a parallel move, Walsin will inject €60.5 million ($65.8 million) into its Italian unit CAS through its Luxembourg subsidiary. This investment will increase Walsin’s indirect ownership in CAS from 70% to 71.83%.
The fundraising follows Walsin’s previous NT$10 billion share sale in 2022 and aligns with its strategic focus on specialty steel operations. The company has been actively expanding its presence in high-value steel products for automotive, aerospace, and medical applications. Last November, CAS acquired German seamless steel tube manufacturer MST for €116 million, strengthening Walsin’s position in the stainless steel and nickel alloy value chain.
