By Nathalie Tadena
Pennsylvania Real Estate Investment Trust (PEI) and Himax
Technologies Inc. (HIMX) unveiled details about offerings of their
stock late Tuesday.
Pennsylvania Real Estate is offering 10 million shares of
beneficial interest as the REIT looks to raise funds to pay down
debt and for other general corporate purposes. It had 56.5 million
shares outstanding as of April 22. Shares slid 3.8% to $19.94 after
hours.
Fabless semiconductor company Himax has filed plans to sell up
to 25.5 million American depositary shares, which represent two
ordinary shares, in one or more public offerings. The shelf
registration statement also allows the company's largest customer
Innolux Corp. (3481.TW), which owns about 15% of Himax's
outstanding shares, the ability to offer up to 25.4 million ADS.
Innolux plans to dispose its entire holding in Himax as part of its
divestment strategy and to focus on its core business of TFT-LCD
manufacturing.
Himax said specifics of any future offering, including the price
and use of proceeds, will be disclosed at the time of the offering.
It had 339.1 million ordinary shares outstanding, according to a
regualtory filing. Himax's ADS fell 5.5% to $5.20 after hours.
Write to Nathalie Tadena at nathalie.tadena@dowjones.com
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