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Chunghwa Picture Tubes (CPT) on November 24 announced that it will sell 152.982 million shares, equivalent to a 34.65% stake, of Giantplus Technology to Ortus Technology, a Japan-based industrial and automotive display maker, at NT$16.57 (US$0.522) per share for a total price of NT$2.535 billion.
Giantplus produces small- to medium-size panels and LCD modules, and is a supplier of Ortus Technology. Through the deal, Giantplus can expect enhance its existing relationship with Ortus.
CPT currently holds 236.982 million shares in Giantplus, a 53.68% stake. In addition to the deal with Ortus, CPT will dispose of the remaining 84 million shares of Giantplus on the Taiwan Stock Exchange at a price interval of NT$14.45-21.49 per share during November 25, 2016-March 15, 2017.
CPT has two 4.5G a-Si TFT-LCD factories and a 6G one in Taiwan and is constructing a 6G a-Si TFT-LCD factory in southeastern China with production to begin in July 2017.
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