Unisem fixes price for last tranche of new shares at near record high

KUALA LUMPUR: Unisem (M) Bhd has priced the last tranche of its new shares to be placed out at near record high, as global shortage of electronic chips fuelled investors' demand for semiconductor stocks.

CIMB Investment Bank Bhd, on behalf of the company told the stock exchange today that the issue price of the remaining 21.08 million Unisem shares has been set at RM7.70 each.

This was a 7% premium compared with the five-day volume weighted average market price up to Jan 19 of RM7.19 a share.

The stock was last traded at RM7.79 on Wednesday.

On Nov 17, Unisem announced a plan to issue up to 72.7 million new shares, or 10% of its share capital, to raise as much as RM400mil.

Proceeds from the fund raising exercise will be used to expand the group factories in Ipoh, Perak and in Chengdu, China.

On Nov 23, it sold 51.6 million new shares at RM5.50 each.

Shares in the company and its peers in the semiconductor industry have surged as investors bet that the current global shortage of electronic chips that had forced carmakers including Toyota and Volkswagen to scale down their production would boost their profits.

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Unisem , semiconductor , private placement


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