On October 6, United Microelectronics declined 3.39% Overnight, trading at $23.11 per share amid turnover of $226.73 million. This movement stems directly from the company's announcement of issuing $18 billion in dual-term convertible bonds, heightening market fears over potential equity dilution.
The massive scale of this offering—vastly exceeding the $1.5 billion CB issuance in September that caused a 5.28% stock slump—intensifies concerns about increased circulating shares. Funds are likely earmarked for expansion, but conversion terms could pressure the stock further.
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