Powerchip

6 hours agoNews Editor

Powerchip Investment Holding files complaint over alleged NT$13.6 billion share-buying plan

Powerchip Innovation Investment Holding said on Nov. 2 that it had filed a complaint with the Taipei District Prosecutors Office over an alleged effort to gather minority shareholders and transfer their shares to an unidentified buyer without following tender offer rules. The company said the plan aimed to acquire a 20% stake at NT$50 per share, for a total value of more than NT$13.6 billion. According to the company, the organizers used LINE groups and Google Forms to solicit shareholders and sent out pre-stamped share purchase agreements, encouraging small investors to pool their holdings until they reached what was described as a threshold for influence over corporate control. Powerchip’s legal counsel said a large-scale purchase from an unspecified group of shareholders should have been reported and publicly disclosed as a tender offer, including the offer price, number of shares, and source of funds. The company also asked regulators to examine whether the money involved could be linked to money laundering or offshore capital. Powerchip is scheduled to hold an extraordinary shareholders meeting on Nov. 25 to elect seven directors and three supervisors, after founder Huang Chong-ren died on July 31.

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Powerchip

16 hours agoNews Editor

Powerchip halts first treasury share buyback after demand hits cap, sets settlement at NT$42 per share

Powerchip Innovation Holding, formerly Powerchip Technology, said its first batch of treasury share repurchases has reached the planned limit just days after the program opened on Oct. 27. The company had earmarked up to NT$1 billion to buy back shares from all shareholders within a price range of NT$30 to NT$55 per share, with the stated purpose of transferring the shares to employees. In a follow-up notice issued on Nov. 2, Powerchip said it would suspend acceptance of applications for the first batch and settle the completed round at NT$42 per share. The company will first process shareholders who submitted documents between Oct. 27 and Oct. 30, then determine whether any of the NT$1 billion authorization remains for a later round. The move has drawn attention because Powerchip is an unlisted public company, meaning it must use a shareholder application process rather than buying shares directly on the exchange. The buyback also revives interest in the company’s long restructuring path, from its 2012 delisting under heavy debt to the later spinout and 2021 listing of Powerchip Semiconductor Manufacturing Corp. (PSMC).

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Powerchip

6 days agoNews Editor

Powerchip Innovation plans NT$1 billion treasury stock buyback, opening an exit path for long-time shareholders

Powerchip Innovation Investment Holding, formerly Powerchip Technology, said on Oct. 27 that it will launch the first tranche of a treasury stock buyback worth up to NT$1 billion. The company plans to repurchase shares from shareholders at NT$30 to NT$55 per share, with the stated purpose of transferring the stock to employees. Because the company is now a publicly issued but unlisted firm, the process will not run through the centralized market. Instead, shareholders must apply voluntarily after receiving notice, and the first application window runs through 4:30 p.m. on Nov. 6. The move is notable for another reason. It gives former shareholders of Powerchip Technology — many of whom were left holding stock after the company was delisted in 2012 — a company-backed, price-defined way to sell shares. The group later restructured, shifted from DRAM into foundry operations, paid down debt, and spun key assets into Powerchip Semiconductor Manufacturing Corp. (6770), which listed in December 2021. Shares that remained at the holding-company level after a 2020 capital reduction and share swap had continued to trade only through the opaque and illiquid unlisted market.

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