Synnex Technology International Corp (聯強國際) and MiTAC Holdings Corp (神達控股) on Wednesday sold a combined 800,000 shares of the NYSE-listed Synnex Corp (SNX) at US$130.3 per share, taking profit from the latter’s share price surge over the past year.
SNX, previously named Compac Microelectronics Inc, was founded in 1980 and is headquartered in Fremont, California. The company distributes IT products and provides customer care outsourced services.
Synnex and MiTAC invested in the company in 1992 and renamed it SNX in 1994.
Shares in SNX have risen 12.58 percent in the past year. The stock hit US$140.69 on Jan. 9, the highest price in the company’s history, NYSE data showed.
Synnex, a Taiwanese electronics distributor, and MiTAC, a manufacturer of server products, mobile devices and terminal products, are listed companies under the MiTAC-Synnex Group (聯華神通集團). Other listed members include UPC Technology Corp (聯成化學科技), Lien Hwa Industrial Corp (聯華實業) and Getac Technology Corp (神基科技).
Synnex said in a filing with the Taiwan Stock Exchange on Thursday that selling 349,000 SNX shares for US$45 million would result in a disposal gain of US$25.6 million, which would translate into about NT$740 million (US$25.14 million) in earnings this quarter, or NT$0.44 per share.
MiTAC said in a separate filing that it sold 451,000 SNX shares for US$58.76 million.
The company said it is expected to book a disposal gain of US$32.84 million, or NT$1.75 billion, representing a contribution of NT$1.2 per share.
After the share sale, Synnex holds 3.86 million shares, or a 0.94 percent stake, in SNX, while MiTAC owns 4.99 million shares, or a 12.51 percent stake, in the firm.
Shares of Synnex rose 0.24 percent to NT$41.95 and MiTAC gained 1.63 percent to NT$34.35 on Friday in Taipei trading.
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