Sino-American Silicon Products Inc(SAS), a Taiwanese maker of wafers for solar cells, semiconductor, sapphire has raised US$177.2 million from the sale of Global Depositary Receipts(GDRs) after fixing the price at a 10% discount versus the three-day volume-weighted average price (VWAP). In this fund-raising project, SAS issues 61,000,000 Global Depository Receipts at a price of US$2.9048 per GDR, which was the equivalent of NT$93 per common share. Each GDR is equal to one common share and will be listed on the Luxembourg Stock Exchange. This is the largest GDR project issued out of Taiwan this year which shows investors generally hold positive outlook for SAS.