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UMC shares fall approximately 10% on news of $1.8 billion convertible bond issuance

TIKR · ·by G4

UMC United Micro Electronics ADR
$15.04 +1.01%
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  1. 1United Microelectronics shares fell approximately 10%.
  2. 2The scale of UMC's convertible bond issuance is $1.8 billion.
  3. 3If all bonds are converted, the dilution rate for existing UMC shareholders is 2.34%.

So what's the key point?

UMC is issuing $1.8 billion in new bonds. If these bonds are later converted into stock, the value of existing shares could decrease by 2.34%.

Source TIKR · View original ↗

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