AU Optronics (AUO) has announced plans to sell a large portion of the shares it holds in affiliate Cando, a maker of touch sensors and panels, at a unit price of NT$31 (US$1.07). Total transaction is estimated at NT$3.79 billion.
AUO said it will dispose of about 122.31 million Cando shares, including the 51.06 million units held by its venture capital subsidiary.
AUO noted that TPK Holding will take up the released Cando shares, representing a 14% stake in the company, with the transaction expected to complete in two months.
After the transaction, AUO will recognize an investment gain of NT$2.99 billion.
TPK has announced it will invest around NT$5.58 billion to acquire a 19.9% stake in Cando.
TPK is a maker of touch panels, sourcing touch sensors from Cando.
Article translated by Jessie Shen
