AU Optronics ADR listed on NYSE
AU Optronics (AUO) issued 50 million American depositary receipts (ADRs) on the New York Stock Exchange (NYSE) on March 23. The issue was priced at US$11.57 per share, a mere 4.5% discount from AUO's closing price of NT$41.60 (about US$1.21) on the Taiwan Stock Exchange (TSE) on the same day. One ADR entitles its holder to 10 AUO shares. AUO's share price rose the 7% daily limit on the TSE to NT$44.50 on May 24.
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