Tuesday, September 26, 2017
Nanya Technology has shed more than half its stake in Micron Technology since June 2017, reducing its holdings in the US company to 2.55%.
Nanya in its company filings with the Taiwan Stock Exchange (TSE) on September 19 and 20 disclosed the sale of a total of around 2.4 million Micron shares for a total of US$85.72 million. An estimated US$44.1 million will be recognized from the sale.
In a filing with the TSE on September 15, Nanya said it sold about 1.1 million shares of Micron for about US$38.15 million. Nanya expects to recognize a gain of about US$19.09 million from the sale.
Nanya sold a total of approximately 4.88 million shares of Micron from September 6 to September 13. A total gain of US$70.89 million will be recognized from the sale, it estimated.
Nanya at the end of 2016 announced its strategic investment in Micron through private placement by acquiring 57,780,138 Micron shares for a 5.26% stake in the US company. However, Nanya has sold about 29 million Micron shares since mid-June 2017 for the purpose of increasing the company's working capital and repaying loans.
Nanya's disposal of Micron shares since mid-June generated a total gain of approximately US$427.8 million, according to the company's filings with the TSE.
Nanya still holds 28,405,937 Micron shares, or an about 2.55% stake in the US company.
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