AP Memory prices $415.5 million GDR deal, implying about NT$897.61 per share

AP Memory has completed pricing for its overseas Global Depositary Receipt offering, raising a total of $415.5 million. The company set the issue price at $56.15 per GDR unit. Based on an exchange rate of 31.972 cited in the filing, that works out to about NT$897.61 per share. AP Memory said it issued 7.4 million GDR units, with each unit representing two common shares, for a total of 14.8 million shares. The GDRs are scheduled to list on the Luxembourg Stock Exchange on Oct. 15. According to the company, all proceeds will be used to support funding needs for foreign-currency raw material purchases. AP Memory also said the capital increase is expected to dilute existing equity by about 8.32%, but argued the move is intended to expand its international visibility and strengthen its corporate image, with positive benefits for shareholder interests under its long-term growth plan. The report also pointed to AP Memory’s push into AI and high-performance computing packaging markets. Its S-SiCap product line for 2.5D and 3D advanced packaging has entered mass production, while its VHM technology for AI accelerators is undergoing advanced technical validation with customers. The article added that AP Memory posted September consolidated revenue of NT$1.189 billion, up 90.15% year over year, and that its share price briefly reached NT$1,090 in early October.