Epistar expands with Huga investment and Win Semiconductor partnership
Jun 10, 2010 The leading Taiwanese LED chip maker Epistar will invest in and partner with Huga Optotech. Epistar will become Huga's largest shareholder and Win Semiconductor will also invest in Huga.
Epistar's board of directors has approved a plan to issue 78 million new shares that it will exchange for 184.08 million Huga shares. Huga is also issuing 100 million new shares at NT $30 (USD $0.94) to raise additional capital. Epistar will subscribe to 44.79 million of the new shares with a NT $1.5 billion (USD $50 million) cash investment.
The Epistar deal with Huga is scheduled to close July 19. At that time Epistar will hold a 47.88% stake in Huga worth NT $8.6 billion (USD $268 million).
Win Semiconductor, meanwhile, is expected to buy the remaining new shares issued by Huga according to Taiwan semiconductor news specialist DigiTimes. Win Semiconductor Chairman Dennis Chen is also the current Chairman of Huga.
Author: BIO T&T
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