Taipei Times
Date: Sep 03, 2016
By: Ted Chen / Staff reporter

Investors affected by a botched tender offer yesterday protested outside the Financial Supervisory

Members of a self-help group of XPEC Entertainment investors yesterday protest in New Taipei City. Photo: Chen Mei-ying, Taipei Times

Commission (FSC), demanding that the regulator hold the depository bank involved accountable and investigate allegations of insider trading.
Video game developer XPEC Entertainment’s (樂陞科技) stock began tumbling sharply late last month as plans for Japan’s Bai Chi Gan Tou Digital Entertainment Co to acquire a 25.17 percent stake in the company collapsed.

The Japanese company had offered to spend NT$4.68 billion (US$147.62 million) to purchase 38 million common shares in XPEC at NT$128 per share, but it delayed payment and eventually axed the deal, citing wide swings in XPEC’s share price.

Investors are facing massive losses as XPEC shares yesterday tumbled by the 10 percent daily limit for the third consecutive session to close at NT$56.9, compared with their NT$105 closing price on May 31 when the acquisition was announced.     [FULL  STORY]