HONG KONG May 2 Taiwan's AU Optronics Corp , the world's No.4 LCD maker, plans to sell $350 million of stock to fund the purchase of raw materials and components from overseas, according to a term sheet of the deal seen by Reuters on Thursday.
The U.S.-listed company is offering 74 million new American Depositary Shares (ADS) in a range of $4.30 to $4.50 each, a discount of between 8 percent and 11 percent to the closing price on Wednesday.
The deal could increase by an additional 6 million ADS if the company exercises an over-allotment option.
Citigroup was hired as sole global coordinator, with UBS also acting as a joint bookrunner.
AU posted a smaller-than-expected loss in the first quarter as panel shipments for tablet PCs and high-definition TVs increased.
AU, which supplies major brands such as Hewlett-Packard Co , Dell Inc and Sony Corp, posted a net loss of T$3.3 billion ($111.8 million) for January-March, significantly narrower than its previous nine successive quarterly losses.