CPT sells Giantplus shares
Last November we noted that Chunghwa Picture Tubes (2475.TT) had indicated that it will sell 152.982m shares of its holdings in Giantplus (8105.TT) to Japan based Ortus Technology (pvt) and will sell the remaining 84m shares that it owns on the Taiwan Stock Exchange through March 15, 2017, with the total holdings equal to ~54% of Giantplus. According to Taiwan Stock Exchange filings, CPT sold 42m shares of Giantplus at NT$16.57 ($0.54 US) today. The price of Giantplus stock when we noted the potential transaction was NT$16.20.
CPT acquired its original stake in Giantplus when it sold one of its Gen 3 fabs to the company in 2007 for $200.1m, which included a 30% stake in GP, followed by CPT selling a color filter plant to Giantplus for $40.94m in 2010. CPT acquired an additional stake in Giantplus in April of 2013 in a tender offer that gave shareholders .72 shares of Tatung Co. (2371.TT) plus NT$4.03 in cash, which was equivalent to ~NT$9.65, and just three months later CPT sold one of their module assembly plants to Shenzhen based China Star (pvt) for $71.8m.
CPT acquired its original stake in Giantplus when it sold one of its Gen 3 fabs to the company in 2007 for $200.1m, which included a 30% stake in GP, followed by CPT selling a color filter plant to Giantplus for $40.94m in 2010. CPT acquired an additional stake in Giantplus in April of 2013 in a tender offer that gave shareholders .72 shares of Tatung Co. (2371.TT) plus NT$4.03 in cash, which was equivalent to ~NT$9.65, and just three months later CPT sold one of their module assembly plants to Shenzhen based China Star (pvt) for $71.8m.
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