Sino-American Silicon Products has successfully raised US$284 million through the issuance of 55 million Global Depositary Receipts (GDRs), priced at US$5.17 per unit. The GDRs, representing common shares of the company, will be listed on the Luxembourg Stock Exchange. The issuance price reflects a 5.74% discount from the company’s stock price on the pricing date, and the proceeds will be used to support raw material purchases.
This marks the company’s second GDR issuance, which was met with strong market demand, with the offering fully subscribed within hours. Sino-American Crystal’s diverse business portfolio includes semiconductor wafers through its subsidiary Global Wafer, automotive electronic components, and renewable energy solutions.
With a growing presence in renewable energy, the company aims to capitalize on the global trend towards net-zero carbon emissions. It continues to expand its renewable energy offerings, such as wind, hydro, and solar power, which are supplied to semiconductor clients and used internally.
This fundraising represents a significant milestone for Sino-American Crystal as it seeks to enhance its competitive edge, expand into new markets, and further strengthen its strategic alliances across various industries.
