Gigabyte prices $526 million GDR sale as September revenue hits record high

Gigabyte Technology posted a strong operating update alongside a major fundraising move, as the company said it had completed pricing for an overseas depositary receipt, or GDR, offering worth $526 million, equivalent to about NT$17.05 billion. The proceeds will be used entirely to support overseas material procurement, according to the company, as it prepares for continued demand tied to AI server orders. The offering totals 25 million GDR units, representing 50 million common shares, with each unit priced at $21.05. Based on an exchange rate of 32.408, that works out to about NT$341.09 per share. The GDR is scheduled to list on the Luxembourg Stock Exchange on Nov. 2, and Gigabyte said the equity dilution from the capital increase is about 6.95%. On the operating side, Gigabyte reported September consolidated revenue of NT$63.099 billion, up 125.45% from a year earlier and a record for a single month. The report also noted the company has continued to expand its AI product lineup, including rack-level AI systems shown by its server subsidiary at the OCP Global Summit and a 64GB unified-memory version of its GIGABYTE AI TOP ATOM personal AI supercomputer.