SUBJECT TO APPROVAL:The deal is expected to increase Giantplus’ customer base and free CPT to focus on its high-end panel manufacturing for cars and smartphones
Date: Nov 25, 2016
By: Lisa Wang / Staff reporter
Chunghwa Picture Tubes Ltd (CPT, 中華映管), a LCD panel maker, yesterday said it has agreed to sell a 35 percent share of its local subsidiary to Japan’s Ortus Technology Co Ltd for NT$2.54 billion (US$79.56 million) in a bid to boost investor’s returns on equity.
CPT owns a 53.67 percent stake in Giantplus Technology Co Ltd (凌巨), which makes small and medium-sized flat panels and touch panels used in cars, industrial devices and mobile phones.
The Taoyuan-based CPT said in a statement that it plans to sell 152.98 million Giantplus shares to Ortus at NT$16.57 per share. [FULL STORY]