Taiwan Cement board approves issue of up to NT$30 billion convertibles

By Mary-Katherine Stinson

Lexington, Ky., March 24 – Taiwan Cement Corp.’s board approved the issuance of domestic or overseas convertible corporate bonds, capping the total issuance at NT$30 billion or no more than 1 billion shares issued, according to a notice.

The capital raising plan will be proposed to the 2023 annual general meeting to authorize the company’s board of directors to launch it at the appropriate time depending on market conditions.

Proceeds from the intended issuance will be used to increase operational capital, for overseas procurement of materials, to repay bank loans and procure equipment and other investments,

The issuer is a Taipei, Taiwan, cement company.

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