April 3, 2006 – Advanced Semiconductor Manufacturing Corp. (ASMC), raised about US $83.9 million in an initial public offering, with shares priced in the middle of its earlier range, according to The Standard.
The institutional tranche of the sale was 12x covered, with most investments coming from the US and Asia (40% each) and the rest from Europe. The retail tranche was 13x covered. Trading starts April 7.
The company’s 1.4x 2005 book value exceeds that of domestic chipmaker Semiconductor Manufacturing International Corp. (SMIC), which is only about 0.9x book value.
ASMC lost about $9.4 million in 2005 on sales of $116.3 million.