Unimicron Technology, a Taiwanese chip supplier that produces printed circuit boards and Ajinomoto build-up film substrate for AI servers, is moving to raise as much as $1.4 billion through a sale of global depositary shares. The deal comes after a massive AI-driven rally pushed Unimicron's stock up more than 700% over the past 12 months, reflecting how aggressively investors have been pricing companies tied to the AI server supply chain.
Unimicron, which counts Apple NASDAQ:AAPL and Nvidia NASDAQ:NVDA as customers, is selling 50 million global depositary shares at $26.96 to $27.76 each. That range represents a 3% to 6% discount to its NT$917 Monday close. The company plans to use the proceeds to buy raw materials in foreign currencies, suggesting the capital raise may help support procurement needs as demand for AI infrastructure continues to shape investor interest in chip packaging and circuit-board suppliers.
The timing is notable because Unimicron shares fell 5.4% Monday in Taipei, even as the company still holds a market value of about $45 billion. Investors have also turned more cautious on the durability of the AI rally, with Asian technology stocks stalling Monday. Still, the offering shows that AI-linked chip suppliers may continue trying to monetize elevated market enthusiasm, while South Korea-based chipmaker SK Hynix is also preparing a US listing that is expected to be the largest-ever debut by a foreign company in the country.