Wistron Shares Drop After Announcing $1.5 Billion Global Stock Sale
Shares of Wistron Corporation, a major supplier to Nvidia, fell over 6% on Tuesday following the announcement of a $1.47 billion global depositary receipt offering. The company priced 25 million GDRs at NT$186.24 each (about $58.88), representing roughly a 5.5% discount to its previous closing price and accounting for approximately 7.29% of outstanding shares before issuance. Proceeds from the offering will be used primarily for raw material procurement in foreign currencies. Wistron's stock has risen about 23% year-to-date, despite recent declines tied to the fundraising announcement. The company is expanding its AI server business and recently approved NT$10.5 billion (about $347 million) in capital expenditures across Taiwan and U.S.-based facilities.
Tickers: $NVDA
Topics: AI server production equity fundraising share price movement