Synnex issuing US$200 million in new shares
by David Masters
March 24, 2008
Taiwan’s biggest 3C (communications, computers, and consumer electronics) provider, Synnex Technology International, is issuing new shares to increase its paid-in capital by an estimated NT$6.0 billion (US$196 million). The shares will either be issued in Taiwan, or overseas through depository receipts.
The company’s current paid-in capital stands at NT$10.84 billion. The new funds raised from the share sales will increase this by 55.4%.
It is expected that funds raised from the shares will be used to expand Synnex’s distribution network in China, which is the company’s biggest market outside Taiwan. Synnex is planning to build a total of 20 logistics centres in China.
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