‘LONG-TERM’ STRATEGY:This is the second time XPEC Art Center Inc has scrapped plans for a listing on the Taipei Exchange, after it aborted a similar plan two years ago
Taipei Times
Date: Sep 12, 2016
By: Lauly Li / Staff reporter
XPEC Art Center Inc (XAC, 樂陞美術館), a subsidiary of the troubled XPEC Entertainment Inc (樂陞科技), on Saturday announced that it is to withdraw its share listing application to the Taipei Exchange.
XAC was established in Kaohsiung in July 2013 with paid-in capital of NT$203.5 million (US$6.45 million) and designs artwork for video games, the company said.
This is not the first time XAC retracted its share listing plan. The firm filed an application with the Taipei Exchange in March 2014 and withdrew the application in June that year citing “long-term” strategies.
XAC revived the share listing plan on July 12 and the Taipei Exchange was expected to complete its review of the application before the end of this month. [FULL STORY]