Memory module maker Adata Technology has set the conversion price for its latest issue of unsecured convertible bonds at NT$45.80(US$1.46), according to a company filing with the Taiwan Stock Exchange (TSE).
The conversion price was set on September 27. Adata plans to raise NT$1 billion through the bond issue.
The share price of Adata closed at NT$49.10 on Taiwan's OTC market on September 28, gaining NT$3.20. Its share price opened at NT$50.20 today (September 29).
Adata swung to net losses in the second quarter of 2010, due to losses in inventory value arising from chip price drops. Market watchers expect the memory module house to restore profitability in the third quarter, thanks to inventory control.
Adata said it is in the middle of a fund-raising process, and therefore would not make comments.