FocalTech to merge Orise
FocalTech Corp (敦泰電子), a major supplier of controller chips for smartphone touch panels in China, yesterday said the company’s board had approved a proposal to merge with local rival Orise Technology Co Ltd (旭曜科技) via a share swap. The merger would create the world’s biggest touch panel controller and driver IC supplier, FocalTech said in a statement. Each FocalTech share will be exchanged for 4.8 Orise shares, it said. FocalTech will pay NT$62.4 per Orise share, a premium of about 11 percent compared with Orise’s closing price of NT$56 on Friday last week. The firm expects to complete the transaction on Jan. 2 next year, with FocalTech being delisted from the local stock market and Orise renamed FocalTech.
Amtran to cut dividends
Amtran Technology Co Ltd (瑞軒科技), which makes flat-panel TVs for Vizio Inc and other TV brands, yesterday said its board had approved a proposal to distribute a cash dividend of NT$2.2 per share this year — lower than last year’s NT$2.5 because of a profit decline. Despite the drop, it still represented a dividend yield of 11.2 percent based on the stock’s closing price of NT$19.65 yesterday. Amtran posted a net profit of NT$1.14 billion (US$37.6 million), or NT$1.4 per share, last year, down 40 percent from NT$1.92 billion, or NT$2.19 per share, in 2012. Revenue halved to NT$29.5 billion last year from NT$58.8 billion a year.