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Asus set to lower shareholdings in Pegatron
By Ted Chen, The China Post
April 30, 2013, 12:05 am
TAIPEI, Taiwan -- Asus (華碩
yesterday announced that it intends to significantly lower its holdings in Pegatron (和碩, the company's manufacturing spin-off, representing significant progress toward achieving independent operation, a process dating back to 2010.
Asus' shareholdings in Pegatron are set to be reduced by 4.5 percent dropping from 24.09 percent to 19.59 percent. This represents a transaction approaching 103 million Pegatron shares. In addition, the shares transfer is expected to net NT$46 billion in cash for Asus, with up to NT$540 million poised to be recognized as nonoperating income, according to the company.
The move represents a significant step toward achieving separate and independence operations for the two companies, in line with long-term client and partner expectations, according to the companies. The transaction is aimed at dispelling the concerns of clients and partners regarding the state of relations between the companies, according to Pegatron.
By Ted Chen, The China Post
April 30, 2013, 12:05 am
TAIPEI, Taiwan -- Asus (華碩
yesterday announced that it intends to significantly lower its holdings in Pegatron (和碩, the company's manufacturing spin-off, representing significant progress toward achieving independent operation, a process dating back to 2010.Asus' shareholdings in Pegatron are set to be reduced by 4.5 percent dropping from 24.09 percent to 19.59 percent. This represents a transaction approaching 103 million Pegatron shares. In addition, the shares transfer is expected to net NT$46 billion in cash for Asus, with up to NT$540 million poised to be recognized as nonoperating income, according to the company.
The move represents a significant step toward achieving separate and independence operations for the two companies, in line with long-term client and partner expectations, according to the companies. The transaction is aimed at dispelling the concerns of clients and partners regarding the state of relations between the companies, according to Pegatron.
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