BIG BET:The firm said it may try to raise NT$10 billion to NT$20 billion by selling bonds and up to NT$6 billion by offering 20 million shares via a private placement
Date: Apr 08, 2017
By: Lisa Wang / Staff reporter
NAND flash memory controller supplier Phison Electronics Corp (群聯電子) yesterday said it is considering making a NT$26 billion (US$849.65 million) contribution to a group of investors looking to acquire Toshiba Corp’s memorychip unit, to show its support for its debt-ridden Japanese partner.
Phison, about 10 percent owned by Toshiba, said it has formed a strong partnership with the Japanese firm over the past decade and it “would not be absent” from Toshiba’s divestment of its memorychip unit.
Phison was informed about the spinoff when Toshiba made the decision before the Lunar New Year holiday in February, the company said. [FULL STORY]