Battered by the alleged scandal, Infodisc shares tumbled 6.8 percent to close at NT$3.7 on the TSE yesterday.
Prior to the hiccup, Infodisc was a star when it listed on the over-the-counter market in 2000. Shares were once as high as NT$512 per share with earnings per share (EPS) of NT$7.38. But the prosperity did not last after it listed on the TSE in 2001, when the company reported huge losses and saw EPS falling to negative NT$4.23, which dragged the share value down to less than NT$100.
The stock regulators also started their scrutiny of Infodisc's financial reports last year and the issuance of NT$5.7 billion-worth of Euro-Convertible Bonds in 2002 and last year, in a bid to verify if the certified public accountants [Diwan, Ernst & Young (致遠)] and the underwriters need to bear any responsibility, Jerry Huang (黃顯華), a Financial Supervisory Commission member said yesterday.
Apart from Infodisk, the authority has not found other companies in abnormal situations, after checking semi-annual financial reports submitted by the listed companies, Huang said.
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