Pre-IPO investors raise $59 million from Parade Technologies GDR

Three pre-IPO investors yesterday raised NT$1.76 billion ($59 million) from a fully marketed sale of global depositary receipts (GDRs) in Taiwan-listed Parade Technologies. The sale was well below the $120 million talked about at the launch after the underlying share price fell during marketing and the sellers decided not to sell as many shares as initially planned.