GETTING PERSONAL:The seized assets include Bai Chi representative Yoshiaki Kashino’s 14.1% stake in XPEC, which was worth NT$984 million based on the stock’s closing price

Taipei Times
Date: Sep 07, 2016
By: Lauly Li / Staff reporter

The Securities and Futures Investors Protection Center has seized Japanese company Bai Chi Gan Tou Digital Entertainment Co’s (百尺竿頭) assets in Taiwan, as part of its efforts to protect investors’ interests, the Financial Supervisory Commission (FSC) said yesterday.

“We have the Japanese company’s assets in hand. We will not let investors lose their life savings over this incident,” FSC Chairman Ding Kung-wha (丁克華) told reporters on the sidelines of a forum in Taipei.

Ding’s comments came after shares of game developer XPEC Entertainment Inc (樂陞科技) yesterday plunged by the 10 percent daily limit for the fifth consecutive trading session, after Bai Chi on Tuesday last week abandoned its planned acquisition of a 25.7 percent stake in XPEC that was worth NT$4.68 billion (US$148.99 million), or 38 million shares at NT$128 per share.

XPEC’s stock closed at NT$46.2 per share, the lowest price since July 10, 2012, da     [FULL  STORY]