Taiwan's Gemtek to price NT$1 billion of three-year 0% convertibles

By Kenneth Lim

Boston, March 6 - Taiwan's Gemtek Technology Co. Ltd. said it plans to price NT$1 billion of three-year zero-coupon convertible unsecured bonds.

The bonds will be offered at par of NT$100,000 each.

Polaris Securities Group is the underwriter for the Regulation S offering.

The bonds may be called at any time after the first month if Gemtek common stock closes above 150% of the conversion price.

Gemtek, a Hsinchu, Taiwan-based provider of wireless broadband solutions, said the proceeds of the deal will be used for research and development, business construction and operation purposes.

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