G-Shank Enterprise to issue NT$1 billion of 0% convertibles

By Mary-Katherine Stinson

Lexington, Ky., Oct. 27 – G-Shank Enterprise Co., Ltd.’s board approved a second issuance of unsecured convertible corporate bonds for the domestic market, according to a notice.

The approval on Oct. 27 is valid for three years.

The issuance will total NT$1 billion and will have a coupon rate of 0%.

CTBC Securities Co., Ltd. is the underwriter.

According to the results of the competitive auction, the provisional reserve price is set at a minimum of the face value, which is NT$100,000 per bond.

Proceeds will be used to purchase factory buildings, machinery, equipment and plant facilities.

Taoyuan City, Taiwan-based G-Shank manufactures and markets precision dies and automatic assembly machinery.

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