Sino-American Silicon Products Inc.

10/09/2019 | Press release | Distributed by Public on 10/09/2019 03:19

SAS participated in subscribing common stocks issued through capital increase by Actron Technology Corporation, which deepened cooperation and enhanced relationship between the[...]

Actron Technology Corporation (Ticker: 8255, a.k.a. "ATC") planned to issue 16 million common stocks through capital increase to raise 1,400 million dollars for new product lines of IGBT Module, priced at 87.5 NTD per share. The capital raised will be mainly used to build plants and purchase equipment. The payment schedule for original shareholders has already been completed on October 7th. Sino-American Silicon Products Incorporation (Ticker: 5483, a.k.a. "SAS") is ATC's board of director as well as shareholder with 6.62% of ATC's shares. To deepen future relationship with ATC, SAS decided to increase the percentage of the shares held in ATC. SAS' board meeting unanimously voted to participate in subscribing issued shares through ATC's capital increase as specified persons, within the limited amount ofNT$1 billion.<_o3a_p>

<_o3a_p>SAS is an over-the-counter(OTC) company that specializes in manufacturing and operating solar cell,module and PV power stations. SAS made equity investments in GlobalWafers Co. Ltd (Ticker: 6488, a.k.a. "GWC"), which is a Semiconductor Wafer Incorporation. GWC is the world's 3rdand Taiwan's largest Si wafer supplier for semiconductor industry. ATC is the leading manufacturer for automotive rectifier diode in the global market, with its product stability gaining universal recognition and trust from international power generation and car manufacturers. GWC has long been the main wafer supplier for ATC. ATC is aggressively involved in IGBT product development and manufacturing and supported by SAS through investments. As for SAS, ATC is its critical client; in addition, investing in ACT will improve SAS overall investment portfolio in Semiconductor industry as well.

<_o3a_p>Overall, SAS' participation in ATC's capital increase as specified persons will be advantageous to both companies' future development and accelerate the process of building subsequent IGBT industry chain to bring contribution to semiconductor industry in Taiwan.