AU Optronics Corp. (AUO) announced that it has priced its follow-on public offering of 74.0 million American Depositary Shares or ADSs, each representing 10 common shares of the Company at US$4.4 per ADS.
AUO stated that it has granted the underwriters an option to purchase up to an additional 6.0 million ADSs solely to cover over-allotments.
The company said it expects to receive net proceeds of about US$322.2 million, or US$348.3 million if the underwriters exercise their over-allotment option in full, after deducting underwriting discounts.
AUO intends to use the net proceeds to fund purchases of raw materials and components from overseas.
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