Prosecutors said they are investigating if insider trading in shares of Hsinchu International Bank (
"Prosecutors have started investigations into whether there was any insider trading involved in transactions of Hsinchu International Bank shares," said Lin Jinn-tsun (林錦村), spokesman for the Taipei District Court Prosecutors' Office, said yesterday, confirming a Chinese-language Economic Daily News report, which didn't cite anyone.
Prosecutors are still waiting for the results of an initial investigation from the Financial Supervisory Commission as a reference for the probe, Lin said, declining to give more details.
Hsinchu Bank spokesman Leo Liang (梁俊武) said yesterday he "isn't aware of any insider trading and prosecutors haven't come to the bank's office for investigation."
The share price of Hsinchu Bank jumped 33 percent and its trading volume surged more than 80 times in the three weeks before the takeover was announced on Sept. 29, according to Bloomberg data.
Shares of Hsinchu Bank declined NT$0.1 to close at NT$23.3 on the stock exchange yesterday.
Standard Chartered on Sept. 29 offered to buy Hsinchu for NT$24.5 per share, valuing the bank at NT$40.5 billion (US$1.2 billion).
The offer has been accepted by 95.4 percent of shareholders.
Fubon Financial Holding Co's (
Fubon Life Assurance Co (
Fubon Life Assurance is a shareholder of Hsinchu and has a director on the lender's board. The unit is barred by law from buying or selling the company's shares within 12 hours of an announcement, Kung said.
Napoleon Osorio is proud of being the first taxi driver to have accepted payment in bitcoin in the first country in the world to make the cryptocurrency legal tender: El Salvador. He credits Salvadoran President Nayib Bukele’s decision to bank on bitcoin three years ago with changing his life. “Before I was unemployed... And now I have my own business,” said the 39-year-old businessman, who uses an app to charge for rides in bitcoin and now runs his own car rental company. Three years ago the leader of the Central American nation took a huge gamble when he put bitcoin
TECH RACE: The Chinese firm showed off its new Mate XT hours after the latest iPhone launch, but its price tag and limited supply could be drawbacks China’s Huawei Technologies Co (華為) yesterday unveiled the world’s first tri-foldable phone, as it seeks to expand its lead in the world’s biggest smartphone market and steal the spotlight from Apple Inc hours after it debuted a new iPhone. The Chinese tech giant showed off its new Mate XT, which users can fold three ways like an accordion screen door, during a launch ceremony in Shenzhen. The Mate XT comes in red and black and has a 10.2-inch display screen. At 3.6mm thick, it is the world’s slimmest foldable smartphone, Huawei said. The company’s Web site showed that it has garnered more than
CROSS-STRAIT TENSIONS: The US company could switch orders from TSMC to alternative suppliers, but that would lower chip quality, CEO Jensen Huang said Nvidia Corp CEO Jensen Huang (黃仁勳), whose products have become the hottest commodity in the technology world, on Wednesday said that the scramble for a limited amount of supply has frustrated some customers and raised tensions. “The demand on it is so great, and everyone wants to be first and everyone wants to be most,” he told the audience at a Goldman Sachs Group Inc technology conference in San Francisco. “We probably have more emotional customers today. Deservedly so. It’s tense. We’re trying to do the best we can.” Huang’s company is experiencing strong demand for its latest generation of chips, called
Vanguard International Semiconductor Corp (世界先進) and Episil Technologies Inc (漢磊) yesterday announced plans to jointly build an 8-inch fab to produce silicon carbide (SiC) chips through an equity acquisition deal. SiC chips offer higher efficiency and lower energy loss than pure silicon chips, and they are able to operate at higher temperatures. They have become crucial to the development of electric vehicles, artificial intelligence data centers, green energy storage and industrial devices. Vanguard, a contract chipmaker focused on making power management chips and driver ICs for displays, is to acquire a 13 percent stake in Episil for NT$2.48 billion (US$77.1 million).
RSS