Gigabyte Sets $21.05 Price for $526 Million GDR Issue

Gigabyte (2376) priced 25 million global depositary receipts (GDRs) at $21.05 each on Oct. 28, an offering expected to raise about $526 million for overseas materials purchases. September revenue reached a record NT$63.099 billion as the company completed the financing step.

Each GDR represents two common shares, for 50 million shares in total. The issuance represents estimated dilution of 6.95%; Gigabyte said it would not materially dilute existing shareholders.

September consolidated revenue was up 125.45% from a year earlier and equaled about 60% of the company’s first-quarter revenue. Gigabyte did not disclose a separate September revenue figure for AI servers.

In mid-October, Giga Computing, Gigabyte’s server subsidiary, showcased rack-scale AI solutions at the Open Compute Project Global Summit. It also announced a role in Scaleway’s new service using AMD Instinct GPUs.

The GDRs are scheduled for issuance Monday, Nov. 2, on the Luxembourg Stock Exchange.