February 25, 2011 / 1:16 AM / 7 years ago

Japan's Elpida opens up 0.9 pct on Taiwan debut

TAIPEI (Reuters) - Japanese computer chip maker Elpida Memory Inc’s Taiwan depositary receipts (TDRs) opened 0.9 percent higher than the offer price on their debut on Friday.

Elpida opened at T$21.50 versus the IPO price of T$21.30. In early trading it briefly extended gains to as high as T$21.80.

It sold 200 million units in the middle of the indicative range, raising T$4.26 billion ($145 million).

Elpida, the world’s No.3 maker of dynamic random access memory (DRAM) chips, is the first Japanese company to list in Taiwan. It has been working with partners in Taiwan to compete with bigger rivals Samsung Electronics Co Ltd and Hynix Semiconductor Inc.

In Tokyo its shares rose 3.7 percent.

Reporting by Clare Jim; Editing by Jonathan Standing

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