TWSE Press Release
Andes Technology Corporation IPO by auction successfully completed today (February 24)
Publish Date︰2017/02/24 14:08
Andes Technology Corporation conducted its initial public offering (IPO) of common shares by auction and public offer. The company issued 2,500,000 shares by auction and 624,000 shares by public offering. A total of 1,783 bids were received with 1,683 bids being eligible. The winning bids were decided by American auction format. A public bid opening by computer was completed at TWSE at 10 a.m. on February 24. All shares were successfully auctioned off. The results are shown below.
Lowest winning bid: TWD103.66
Highest winning bid: TWD124.00
Weighted average winning bid:TWD106.65
According to the Taiwan Securities Association Rules Governing Underwriting and Resale of Securities by Securities Firms, the lowest bid from the competitive auction for Andes Technology Corporation wasTWD54.25, and the public offering price is TWD65.10. The public subscription period started on March 2 and ended on March 6. The public lottery draw date is March 8.