On August 28, United Microelectronics rose 8.91% in pre-market trading, trading at $20.55/share, with turnover of $251,700.

On the news front, UMC's board approved the issuance of up to $1.8 billion in unsecured overseas convertible bonds, to be issued in two tranches with a tentative tenor of up to five years and a coupon rate of 0%. Proceeds will be used to purchase machinery and equipment and for factory construction. The move extends the company's previously approved approximately $5 billion capital expenditure plan, continuing to expand capacity at its Singapore and Tainan facilities to capture AI and edge computing demand.

The bond issuance comes on the heels of a strong Q2 report, in which EPS of $0.54 beat the consensus estimate of $0.15 by 260%, while revenue of $2.176 billion also exceeded expectations. July revenue rose 19% year-over-year to NT$23.84 billion, reflecting continued improvement in mature-node demand driven by AI spillover into power management, sensors, and edge computing chips.

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