Freight forwarder and logistics operator T3EX Global Holdings Corp (台驊國際投資控股) yesterday said its board of directors had approved a plan to issue 10 million new common shares to raise fresh capital to repay loans after it decided against subscribing to Yang Ming Marine Transport Corp’s (陽明海運) share offering.
Pricing for the 10 million shares has not been settled, as T3EX needs to apply for regulatory permission to issue the new shares and to set a subscription date, the company told the Taipei Times by telephone.
However, based on its closing price of NT$244 in Taipei trading yesterday, it could raise at least NT$2 billion from the share offering, it said.
Photo copied by Hung Ting-hung, Taipei Times
“The new capital will mainly be used to repay loans to improve T3EX’s debt ratio,” company spokesperson Linda Hsu (許琳婕) said by telephone.
T3EX had a debt-to-asset ratio of 0.53 percent at the end of March, down from 0.57 percent at the end of last year, company data showed.
The freight forwarder had not assessed the share dilution, but expected it to be mild, as the addition of 10 million new shares would be less than 10 percent of its 127 million shares, Hsu said.
T3EX on Thursday announced that it had changed its investment plan and would not subscribe to Yang Ming’s share offering, after the container shipper set its price at NT$182, it said in a stock exchange filing.
Yang Ming closed at NT$179 in Taipei trading on Thursday.
“We cannot forecast or guess how Yang Ming’s share price will fluctuate in the future,” T3EX said. “To safeguard the interests of our shareholders, we decided not to invest in Yang Ming’s new shares.”
The company’s board of directors last month approved a plan to invest up to NT$ 1 billion in Yang Ming’s share offering “to maintain good supply chain relations and for financial investment,” it said.
In the first quarter, T3EX saw its unrealized profits increase as the share price of Yang Ming, in which it owned about 20 million shares, climbed.
Despite T3EX’s pulling out, Yang Ming yesterday raised NT$29.12 billion from its 160 million common share issue, it said in a filing with the stock exchange.
The domestic unit of the Chinese-owned, Dutch-headquartered chipmaker Nexperia BV will soon be able to produce semiconductors locally within China, according to two company sources. Nexperia is at the center of a global tug-of-war over critical semiconductor technology, with a Dutch court in February ordering a probe into alleged mismanagement at the company. The geopolitical tussle has disrupted supply chains, with some carmakers reportedly forced to cut production due to chip shortages. Local production would allow Nexperia’s domestic arm, Nexperia Semiconductors (China) Ltd (安世半導體中國), to bypass restrictions in place since October on the supply of silicon wafers — etched with tiny components to
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
Taiwan is open to joining a global liquefied natural gas (LNG) program if one is created, but on the condition that countries provide delivery even in a scenario where there is a conflict with China, an energy department official said yesterday. While Taiwan’s priority is to have enough LNG at home, the nation is open to exploring potential strategic reserves in other countries such as Japan or South Korea, Energy Administration Deputy Director-General Chen Chung-hsien (陳崇憲) said. While the LNG market does not have a global reserve for emergencies like that of oil, the concept has been raised a few times —
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday received government approval to deploy its advanced 3-nanometer (3nm) process at its second fab currently under construction in Japan, the Ministry of Economic Affairs said in a news release. The ministry green-lit the plan for the facility in Kumamoto, which is scheduled to start installing equipment and come online in 2028 with a monthly production capacity of 15,000 12-inch wafers, the ministry said. The Department of Investment Review in June 2024 authorized a US$5.26 billion investment for the facility, slated to manufacture 6- to 12nm chips, significantly less advanced than 3nm process. At a meeting with
RSS