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TAIPEI Jan 17 Taiwan's Innolux, the world's No.3 flat-panel maker, said on Thursday that it has raised $504 million via an overseas right issue.
The share sale, which was in the form of global depository receipts (GDRs), was priced at T$12.98 ($0.45) per share, the company said in a statement to the Taiwan stock exchange. That was below the Thursday's closing price of T$14.15.
The sale was oversubscribed, indicating that foreign investors were confident of Innolux's outlook, the statement added. ($1 = 28.9760 Taiwan dollars) (Reporting by Faith Hung; Editing by David Goodman and Paul Tait)