Green Energy Technology Inc (綠能), the nation’s biggest solar wafer maker, yesterday said it planned to raise NT$950 million (US$32.98 million) by selling new common shares to finance the company’s long-term operations and to repay debt.
The fund-raising program came as the global solar industry started recovering from a prolonged over-capacity-driven slump resulting from industrial structuring.
Green Energy planned to issue 35.45 million new common shares at NT$26.8 per share to raise funds, the company said in a statement following a board meeting.
The price represented a 19.52 percent discount, compared with the stock’s closing price of NT$33.3 yesterday.
Parent company Tatung Group (大同) will fully subscribe to the share sale, indicating Tatung’s support for and confidence in Green Energy’s business outlook, the statement said.
San-Chih Semiconductor Co Ltd (尚志), a semiconductor arm of Tatung, yesterday said it planned to subscribe to all shares issued by Green Energy, according to a company statement filed to the Taiwan Stock Exchange.
Currently, San-Chih has a 23.73 percent share of Green Energy, the statement said.
The price of solar wafer is expected to rise by between 3 percent and 5 percent this month to about US$1 per unit from a month ago due to supply constraint, local market researcher TrendForce Corp (集邦科技) said, with the uptrend expected to carry into this month.
On Tuesday, local solar cell maker Solartech Energy Corp (昇陽) said that it has raised NT$1.125 billion by issuing 50 million common shares mostly via private placement, the company’s filing to the Taiwan Stock Exchange said. Each share is priced at NT$22.5, a discount of 18.92 percent from the share price of NT$27.75 on Monday, it said.
Solartech planned to use the proceeds to repay bank loans and to improve its financial structure.
The price of solar cells is expected to increase 0.26 percent to US$0.39 per watt this month from the prior month due to persistent strong demand, TrendForce said. Most solar cell makers are running their factories at high capacity, the research house said.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday said its materials management head, Vanessa Lee (李文如), had tendered her resignation for personal reasons. The personnel adjustment takes effect tomorrow, TSMC said in a statement. The latest development came one month after Lee reportedly took leave from the middle of last month. Cliff Hou (侯永清), senior vice president and deputy cochief operating officer, is to concurrently take on the role of head of the materials management division, which has been under his supervision, TSMC said. Lee, who joined TSMC in 2022, was appointed senior director of materials management and
Gudeng Precision Industrial Co (家登精密), the sole extreme ultraviolet pod supplier to Taiwan Semiconductor Manufacturing Co (台積電), yesterday said it has trimmed its revenue growth target for this year as US tariffs are likely to depress customer demand and weigh on the whole supply chain. Gudeng’s remarks came after the US on Monday notified 14 countries, including Japan and South Korea, of new tariff rates that are set to take effect on Aug. 1. Taiwan is still negotiating for a rate lower than the 32 percent “reciprocal” tariffs announced by the US in April, which it later postponed to today. The
MAJOR CONTRIBUTOR: Revenue from AI servers made up more than 50 percent of Wistron’s total server revenue in the second quarter, the company said Wistron Corp (緯創) on Tuesday reported a 135.6 percent year-on-year surge in revenue for last month, driven by strong demand for artificial intelligence (AI) servers, with the momentum expected to extend into the third quarter. Revenue last month reached NT$209.18 billion (US$7.2 billion), a record high for June, bringing second-quarter revenue to NT$551.29 billion, a 129.47 percent annual increase, the company said. Revenue in the first half of the year totaled NT$897.77 billion, up 87.36 percent from a year earlier and also a record high for the period, it said. The company remains cautiously optimistic about AI server shipments in the third quarter,
Nvidia Corp CEO Jensen Huang (黃仁勳) on Thursday met with US President Donald Trump at the White House, days before a planned trip to China by the head of the world’s most valuable chipmaker, people familiar with the matter said. Details of what the two men discussed were not immediately available, and the people familiar with the meeting declined to elaborate on the agenda. Spokespeople for the White House had no immediate comment. Nvidia declined to comment. Nvidia’s CEO has been vocal about the need for US companies to access the world’s largest semiconductor market and is a frequent visitor to China.
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