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Monday, October 16, 2017
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Nanya Technology cash in some Micron holdings

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.

By: DocMemory
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