Contract server maker MiTAC Holdings Corp (神達控股) yesterday saw its share price close up by the daily limit at NT$20.6 from its initial public offering (IPO) price of NT$19.25, as the company restructures itself to focus on cloud services.
“To catch up with industrial trends, MiTAC Holdings will establish several subsidiaries under the company’s server and mobile device businesses,” the company said in a statement.
In April, the company’s board approved plans to establish an investment holding company by swapping all the shares of MiTAC International Corp (神達電腦) into MiTAC Holdings and then delisting MiTAC International from the local bourse.
MiTAC Holdings said it aims to focus on its cloud-technology server business. The company also plans to develop a “cloud ecosystem” that can function across its handheld devices, in a bid to integrate its hardware and software products.
“Through launching multiple brands, we expect our new products and services to attract more clients in different industry sectors,” the company said.
Currently, servers, motherboards and all-in-one computers account for about 80 percent of MiTAC Holdings’ sales, while global positioning systems, automobile batteries and other handheld devices account for the remaining 20 percent, it said.
During the first half of the year, the company’s sales fell 19.14 percent to NT$18.2 billion from a year earlier, while net profit grew 35.83 percent to NT$42.76 million, or earnings per share of NT$0.03, over the same period, Taiwan Stock Exchange data showed.
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