Asustek to reduce stake in unit
By Ralph Jennings |
January 4, 2010, Monday
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Print Edition
Print Edition
TAIWAN'S netbook PC pioneer, Asustek, has approved plans to simplify cutting investment in its subsidiary Pegatron, which could be listed in June, a newspaper said over the weekend.
The company's board agreed to the plans on Friday to reduce its share in Pegatron, a fully owned contract manufacturing subsidiary, by June 1, a month earlier than anticipated, Taiwan's Commercial Times reported.
The spin-off could be listed by June 24, the paper said.
Asustek will reduce its holding in Pegatron to 25 percent, a move to avoid any conflict of interest between the two sides. The firm said last month it would cut the number of shares issued by 85 percent.
Company sources were not available for comment on Saturday.
Asustek started as a contract maker of motherboards, but has turned to selling laptop PCs for higher profit margins, spinning off its manufacturing arm in 2008 into a fully owned subsidiary.
The company's board agreed to the plans on Friday to reduce its share in Pegatron, a fully owned contract manufacturing subsidiary, by June 1, a month earlier than anticipated, Taiwan's Commercial Times reported.
The spin-off could be listed by June 24, the paper said.
Asustek will reduce its holding in Pegatron to 25 percent, a move to avoid any conflict of interest between the two sides. The firm said last month it would cut the number of shares issued by 85 percent.
Company sources were not available for comment on Saturday.
Asustek started as a contract maker of motherboards, but has turned to selling laptop PCs for higher profit margins, spinning off its manufacturing arm in 2008 into a fully owned subsidiary.
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