United Environtech

United Environtech is proposing to issue & list 32m TDRs representing 40m new shares on the Taiwan Stock Exchange. The membrane-based water specialist hopes to raise $16.7m to pursue BOT wastewater treatment projects in Taiwan. The shares will be offered at no more than 10% discount to weighted price but based on est proceeds, the offer shares are priced at $0.4175 each vs current $0.39. Stock is cuurently trading at forward P/E of 8.3x & 1.5x P/B.