Visual Photonics Epitaxy Plans to Raise NT$1 Billion Through Convertible Bond Issuance; Shares Down 6%

MT Newswires Live10-30 12:52

Visual Photonics Epitaxy (TPE:2455) has received board approval for the issuance of its fourth domestic unsecured convertible bonds, with a total value of NT$1 billion, according to a Thursday filing to the Taiwan stock exchange.

The company's shares were down over 6% in Friday's trade.

The three-year bonds will have a face value of NT$100,000 each and carry a zero-coupon rate.

Capital Securities Corporation is acting as underwriter for the issue and Taichung Commercial Bank serving as trustee.

The company plans to use the proceeds to strengthen working capital, particularly for material procurement, and purchase machinery and equipment, including ancillary equipment and related installation works.

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