Taiwanese manufacturer Quanta Display has completed its first-ever offering of global depositary shares (GDSs).

The rule 144A/regulation S offering by Quanta Display of 30 million GDSs represents 600 million shares of common stock of the company. The offering included the sale of 3.9 million additional GDSs pursuant to the exercise of the over-allotment option.

Quanta Display is a manufacturer of TFT-LCD display panels for use in notebook PCs, desktop monitors and TFT-LCD televisions. It is one of the latest Taiwanese issuers to access the international markets.

Davis Polk & Wardwell advised Lehman Brothers as lead underwriter and sole bookrunner on the US$269.8m deal. The US firm's corporate team included Hong Kong-based partner John G Crowley, London-based partner John D Paton (advice on tax matters), and New York-based counsel Susan Boccardi (advice on the Investment Company Act of 1940).

Russin & Vecchi advised Quanta on Republic of China law matters.