Episilicon raises $416 million through oversubscribed GDR issuance

Episilicon (6531-TW) has completed its Global Depositary Receipt (GDR) pricing, raising approximately $416 million. The GDRs were priced at $56.15 per unit, representing a discount of about 5.22% from the previous closing price. The issuance, which saw oversubscription by five times, will be listed on the Luxembourg Stock Exchange.

The capital raised is intended to bolster working capital and support the company's growing operational needs, specifically for purchasing raw materials. This marks the company's second major entry into international capital markets since 2022.

Episilicon reported record-high September revenue of NT$1.19 billion, a 90% increase year-on-year. This growth is driven by strong demand in the IoT, AI, and High-Performance Computing (HPC) sectors. Key growth drivers include the shortage of standard memory leading to increased demand for customized IoTRAM, and the rising demand for silicon capacitors (S-SiCap) used in advanced packaging for AI and HPC chips.