Chi Mei Optoelectronics (CMO) is in the process of issuing 78,187,000 shares of preferred stock at NT$42 per share to raise NT$3.284 billion to fund its purchase of 59% of International Display Technology’s (IDT) shares from Chi Mei Corporation. CMO will hold 85% of IDT’s shares after the acquisition.
Payment for the preferred shares is scheduled for January 28-30, and CMO’s total paid-in capital will increase to about NT$16.982 billion. (Each share of stock in Taiwan is issued for a nominal value of NT$10.)
Article translated by Shih-wei Kao and edited by Richard So
