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Latham Advises on GlobalWafers’ US$689 Million GDS Issuance

April 3, 2024
Firm represents Citibank on equity offering by leading Taiwanese semiconductor manufacturer.

Latham & Watkins has advised Citibank as sole global coordinator and sole bookrunner on the US$689 million Global Depositary Shares (GDSs) Issuance by GlobalWafers, a leading Taiwanese semiconductor manufacturer. The GDSs are listed on the Luxembourg Stock Exchange. The transaction represents the largest GDS offering by a Taiwan company in the past decade, the largest GDS offering globally since 2023, and the largest Asia TMT primary follow-on offering in 2024 to date.

The Latham team was led by Hong Kong partner Benjamin Su, with counsel Eric Yiu and associate Eunice Chan. Advice was also provided on tax matters by New York partner Aaron Bernstein and Los Angeles partner Eric Cho, with Boston associate Jeremiah Cowen; and on 40 Act matters by Washington, D.C. counsel Joel Cavanaugh.