Flexium Interconnect scraps $120 million euro convertibles offering

By Marisa Wong

Morgantown, W.Va., May 4 – Flexium Interconnect Inc. is cancelling its planned issuance of overseas convertible corporate bonds, according to a Taiwan Stock Exchange notice.

In February the company announced plans to issue up to $120 million of zero-coupon euro convertible bonds. The three-year bonds were to be issued at par.

On Friday the company said it has decided to pull the offering in order to protect its best interests and shareholders’ equity, given changes in the recent capital market environment.

The bonds would have been the Kaohsiung, Taiwan-based circuit board manufacturer’s third issue of euro convertibles.

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