Chipmaker Mosel Vitelic Inc’s (茂矽) shares yesterday rose to the highest level in about three months after major stakeholder Actron Technology Corp (朋程科技) boosted its shareholding to 30 percent.
The stock hit its daily price fluctuation limit, soaring 9.99 percent to close at NT$42.4.
Actron, which makes electronic components and diodes used in cars, increased its stake in Mosel to 30.05 percent through a bulk purchase of 19 million Mosel shares for NT$736.25 million (US$23.74 million). Before the transaction, Actron held a 17.88 percent stake in Mosel.
Photo: Grace Hung, Taipei Times
Each Mosel share was priced at NT$38.75, representing a small discount of 0.52 percent compared with its close price of NT$38.55 on Friday.
The deal “aims to deepen the company’s deployment in supply chains and benefit the company’s long-term development,” Actron said in a filing to the Taiwan Stock Exchange on Friday.
“The deal will also help accelerate the company’s vertical integration of the supply chain,” Actron said. “It will have a positive impact on the company’s book value and earnings per share.”
Mosel generates half of its revenue from supplying metal-oxide-semiconductor field-effect transistors, the company’s Web site said.
Pan Jit International Inc (強茂) yesterday said its subsidiary Pynmax Technology Co (景茂科技) planned to divest its total holding of Mosel through a bulk transaction. Pynmax was the second-biggest shareholder of Mosel with a stake of 12.17 percent.
In a filing with the Taiwan Stock Exchange yesterday, Mosel said Pynamx had withdrawn from the company’s board.
Actron’s share price yesterday surged 5.71 percent to close at NT$166.5 in Taipei trading.
In the first three quarters of this year, Actron’s net profit grew 2.8 percent to NT$452.44 million, from NT$403.3 million a year earlier.
Earnings per share rose to NT$4.96 from NT$4.43, company data showed. Revenue expanded 5.43 percent to NT$3.05 billion, from NT$2.89 billion a year earlier.
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