PChomestore losses surge on subsidies

MOVING ABROAD: The firm plans to launch an overseas IPO after it delists and goes private, saying that e-commerce companies are not traded at a fair valuation in Taiwan

Taipei Times
Date; May 17, 2018
By: Lisa Wang  /  Staff reporter

E-commerce operator PChomestore Inc (商店街) has seen its book value nosedive to minus-NT$25.3 per common share after losses last quarter worsened to NT$928 million (US$31.05 million) due to massive shipping subsidies.

The company’s book value was NT$1.64 per share on Dec. 31 last year.

The figure translated into losses per share of NT$26.94, its biggest quarterly losses in five quarters, the company said in a filing with the Taiwan Stock Exchange yesterday.

The quarterly losses were about 2.7 times bigger than PChomestore’s share capital of NT$344 million.    [FULL  STORY]

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