Synnex issuing US$200 million in new shares

Taiwan’s biggest 3C (communications, computers, and consumer electronics) provider, Synnex Technology International, is issuing new shares to increase its paid-in capital by an estimated NT$6.0 billion (US$196 million). The shares will either be issued in Taiwan, or overseas through depository receipts.

The company’s current paid-in capital stands at NT$10.84 billion. The new funds raised from the share sales will increase this by 55.4%.

It is expected that funds raised from the shares will be used to expand Synnex’s distribution network in China, which is the company’s biggest market outside Taiwan. Synnex is planning to build a total of 20 logistics centres in China.

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