Nvidia supplier Wistron's shares drop after it announces $1.5 billion global stock sale
Wistron shares fall Tuesday after announcement of $1.5 billion global share sale
TL;DR
- Wistron Corp. shares fell more than 6% after pricing a $1.47 billion global depositary receipt offering.
- The offering priced 25 million GDRs at $58.88 each, representing 250 million new common shares.
- Proceeds are earmarked for purchasing raw materials in foreign currencies.
- The fundraising aligns with Wistron's expansion in its AI server business, including investments in Taiwan and the U.S.
- Wistron recently opened a $700 million AI server plant in Fort Worth, Texas, producing Nvidia systems.