COOPERATION: The solar wafer maker is to subscribe to Actron’s plan to issue 16 million shares to raise NT$1.4 billion to build a new production line for IGBT modules
Date: Oct 12, 2019
By: Lisa Wang / Staff reporter
Solar wafer maker Sino-American Silicon Products Inc (SAS, 中美晶) on Wednesday said that its board of directors had approved a plan to invest up to NT$1 billion (US$32.41 million) to increase its share of automotive electronic components maker Actron Technology Corp (朋程) in a bid to deepen collaboration between the firms.
The Hsinchu-based company decided to subscribe to a bulk of new share offering from Actron, which aims to raise NT$1.4 billion by issuing 16 million common shares, SAS said in a company statement.
Each share is priced at NT$87.50, representing a discount of 2.89 percent to Actron’s closing price of NT$90.10 on the Taipei Exchange on Wednesday.
Stock markets were closed on Thursday and yesterday for the Double Ten National Day holiday.