AP Memory Technology Corporation (“AP Memory” or “the Company”; TWSE: 6531) completed the pricing of its Global Depositary Receipt (“GDR”) offering on October 12, 2026, raising total proceeds of US$416 million. The offering comprises 7.4 million GDRs, each representing 2 common shares of the Company and expected to be listed on the Luxembourg Stock Exchange. The GDRs were priced at US$56.15 per unit (equivalent to approximately NT$898 per share), representing a 5.22% discount to the Company’s closing price of NT$947 on the pricing date. The proceeds from the offering will be used to fund the Company’s foreign-currency procurement needs.
This offering marks AP Memory’s return to the international capital markets following its US$190 million GDR offering completed in January 2022. Upon receiving regulatory approval, the Company launched the transaction on a favorable market window, achieving more than 5 times oversubscription within a short period and attracting broad participation from a number of renowned international investors. The robust demand underscores capital market’s strong confidence in the Company’s business outlook and long-term growth prospects. UBS Securities served as the Sole Global Coordinator and Bookrunner for the offering.
AP Memory has delivered strong operating performance, with September revenue reaching a record high of NT$1.19 billion (up 15% MoM and 90% YoY), reflecting continued growth of the Company’s product lines. The Company remains focused on applications across IoT, AI, and high-performance computing (HPC). Driven by supply shortage of IoTRAMTM and production ramp of S-SiCapTM product lines, the Company has demonstrated solid revenue growth.
IoTRAMTM is benefiting from supply shortage in standard memory, accelerating adoption of customized IoTRAMTM solutions by more customers and applications. Meanwhile, customers are progressively adopting the next-generation ApSRAMTM products, supporting the next growth phase in IoTRAMTM. S-SiCapTM is witnessing rapidly growing capacitor demand in advanced packaging, driven by the sharp increase in power consumption of AI/HPC chips. IPC (interposer with S-SiCapTM) continues to ramp up shipments. IPD (discrete S-SiCapTM) entered mass production in the second quarter of the year. With rapid production ramp amidst market shortage, IPD is expected to provide strong revenue growth for S-SiCapTM. VHMTM targets AI and data center inference applications demanding ultra-high-bandwidth memory. As customer product development and qualification continue to progress, VHMTM is expected to enter mass production and contribute revenue from 2028 onward.
With all three key product lines advancing, the proceeds from this offering will provide the working capital cushion to support continued market expansion and revenue growth. The additional capital will lay a solid foundation for mid- to long-term growth and facilitate the Company’s vision of achieving a 1:1:1 revenue mix across its three key product lines.
News Contact：Claire Lin, CFO & Spokesperson
Telephone：+886-3-560-1651
E - mail：ir@apmemory.com