Powerchip to issue GDRs, raise funds for operationsStaff writer, with CNAPowerchip Semiconductor Manufacturing Corp (力積電) plans sale of global depositary receipts (GDRs) to raise working capital for its operations as the company looks to cash in on the overall recovery of the global semiconductor sector. The company said in a regulatory filing on Tuesday that it would sell GDRs in a quantity equal to up to 420 million common shares. Signage of Powerchip Semiconductor Manufacturing Co is pictured outside the company’s P5 fab in Miaoli County’s Tongluo Township on July 16, 2024. Photo: Grace Hung, Taipei TimesPowerchip, which provides foundry services in advanced memory chips and logic chips, said it would issue new shares for the GDR sale. Under the LOI, Micron will set up a long-term foundry relationship with Powerchip on advanced DRAM packaging wafer manufacturing and help the company strengthen its specialty DRAM processes.
