Shares of motherboard maker Asrock Inc (華擎) rallied 8.4 percent during its debut on the main bourse, defying the benchmark TAIEX's 3.90 percent loss following the plunge in the US overnight on growing subprime mortgage concerns.
Asrock stock rose NT$21 to NT$271 from its listing price of NT$250 per share. The 7 percent daily limit does not apply to the trading of new shares in the first five sessions. Asrock shares were traded on the smaller Emerging Stock Market (
Asrock is a motherboard brand owned by the world's biggest motherboard maker Asustek Computer Inc (
But, the five-year-old company said last week that it planned to shift its focus to middle-range and high-end products to boost profits as growth in the low-end area slows amid rising competition from Hon Hai Precision Industry Co (
SinoPac Securities Corp (
"Asrock will gain a new driving force after tapping into middle-range and high-end products, which account for 60 percent of the total unit sales of the motherboard industry," SinoPac Securities said in the report published on Monday.
Asrock plans to produce 10 percent to 15 percent more motherboards next year from this year's goal of 7 million units, based on replacement demand for the Vista system and rising demand in the emerging markets, chairman Ted Hsu (
In the first nine months of the year, Asrock's earnings inched up by nearly 4 percent to NT$1.39 billion, compared to NT$1.34 billion a year ago.
On Tuesday it said it had raised NT$2.86 billion by issuing 11.44 million new common shares during the initial public offering. Asrock now has around 102 million shares in issue.
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The US government on Wednesday sanctioned more than two dozen companies in China, Turkey and the United Arab Emirates, including offshoots of a US chip firm, accusing the businesses of providing illicit support to Iran’s military or proxies. The US Department of Commerce included two subsidiaries of US-based chip distributor Arrow Electronics Inc (艾睿電子) on its so-called entity list published on the federal register for facilitating purchases by Iran’s proxies of US tech. Arrow spokesman John Hourigan said that the subsidiaries have been operating in full compliance with US export control regulations and his company is discussing with the US Bureau of
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Pegatron Corp (和碩), a key assembler of Apple Inc’s iPhones, on Thursday reported a 12.3 percent year-on-year decline in revenue for last quarter to NT$257.86 billion (US$8.44 billion), but it expects revenue to improve in the second half on traditional holiday demand. The fourth quarter is usually the peak season for its communications products, a company official said on condition of anonymity. As Apple released its new iPhone 17 series early last month, sales in the communications segment rose sequentially last month, the official said. Shipments to Apple have been stable and in line with earlier expectations, they said. Pegatron shipped 2.4 million notebook
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