Taiwan Ministry of Economic Affairs to Reconsider Sanan Taking a stake in FOREPI

The case that Sanan Optoelectronics takes a stake in Taiwan's Formosa Epitaxy was suspended because the scandal that the financial statements of Sanan are unclear was exposed in this April.

Industrial Development Bureau (IDB) of Ministry of Economic Affairs (MOEA) will reconvene the special review meeting, and the results will be handed over to the Investment Commission of MOEA, the cooperative case has not been canceled. Fengren Jane, chairman of FOREPI, pointed out that the schedule of this case is still unclear, and it is still waiting for the results.

The case that Sanan takes a stake in FOREPI has shocked the cross-strait LED industry, FOREPI intends to issue 120 million shares of private equity at about NTD 19.6 per share, and the total maximum amount is not more than NTD 2.352 billion to introduce capital from Xiamen Sanan. The share capital of FOREPI after the capital increase is about NTD 6.016 billion, then Sanan accounts for 19.9% of the share of FOREPI to be the single largest institutional shareholder, its proportion will be higher than 15% of the current largest institutional shareholder.

However, due to the negative impact of the rumor exposed in this April that the financial statements of Sanan are unclear, Taiwan Investment Commission suspended this investment case expected to pass in April.

Recently, as the two sides signed the Service Trade Agreement, it has been rumored that Taiwan Ministry of Economic Affairs will reconsider the case that Sanan takes a stake in FOREPI.
 

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<
Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.

Tokushima, Japan - 6 March 2024: Nichia, the world's largest LED manufacturer and inventor of the high-brightness blue and white LED, has started mass production of the new UV-B (308nm) and UV-A (330nm) LEDs in its popular 434 Series packa... READ MORE

New XLamp® S Line LEDs enhance growth, last longer, lower energy costs Horticulture and other forms of agricultural lighting require application-tuned ratios of spectral content, high efficacy and long lifetimes. Whether you are interested... READ MORE