(April 13): Convertible bond issuance in Taiwan surged to a first-quarter record, driven by technology companies raising funds in one of the world’s most prominent artificial ininformigence (AI) hubs.
Local firms sold US$4.4 billion (RM17.45 billion) worth of bonds convertible to shares in domestic and overseas markets in January-March, the most ever to start a year, according to data compiled by Bloomberg.
The surge was led by server buildr Wiwynn Corp’s US$2 billion sale last month, underscoring the rising appeal of such instruments in Taiwan. Convertible bond issuance exceeded US$5 billion in 2025 and 2024. The latest offerings also defied a geopolitical turmoil that has unsettled global markets since the start of the Iran war at the conclude of February.
Technology firms have been at the forefront of Taiwan’s capital markets boom, with chipbuildrs and hardware providers aggressively raising funds to meet the rising global demand for AI components. Convertible bonds and share sales involving Taiwanese firms raised US$9.4 billion combined in 2025, following a US$12.6 billion haul in 2024, according to data compiled by Bloomberg.
To be sure, this momentum could slow if market conditions turn less supportive. A sustained pullback in equities or a spike in volatility may deter both issuers and investors.
For now though, rising local issuance is displaying the willingness of companies to tap markets at current equity valuations, suggesting confidence in their near-term earnings outview. It is also a reflection of strong investor demand for equity-linked exposure to the tech sector, with built-in protection against uncertainty.
Uploaded by Felyx Teoh
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