TAIPEI - Hyield Venture Capital Co., Ltd., a subsidiary of Hon Hai (TW:2317) Precision Industry Co., Ltd., has completed the acquisition of shares in SolidEdge Solution Inc., according to a statement released today. The transaction involved the purchase of 40,230,000 common shares at NTD 10 each, with a total monetary amount of NTD 402,300,000.
The acquisition, which took place over a period from September 9 to December 30, 2024, saw SolidEdge Solution Inc. reserve 2,670,000 shares for employee subscription as per legal requirements. Hong Yang Venture Capital, another subsidiary, was set to fully subscribe to any unclaimed shares.
This investment increases Hyield Venture Capital’s cumulative shareholding in SolidEdge Solution Inc. to 117,530,000 shares, amounting to NTD 1,175,300,000, which represents a 97.78% stake. If Hong Yang Venture Capital were to acquire the employee-unsubscribed shares, the cumulative holdings would reach 120,200,000 shares, equating to a complete 100% ownership.
The transaction was decided upon by the Board of Directors and approved by the Audit Committee, with no dissenting opinions from directors. It was also noted that the trading counterparty is a related party, being a parent and subsidiary company relationship.
The acquisition’s purpose is stated as a long-term investment, and it represents a 0.54% ratio to the total assets of the parent company and a 1.16% ratio to the owners’ equity, as per the most recent financial statement. The funds for this transaction came from self-owned funds, and no broker’s fee was involved.
It’s important to note that the information regarding this acquisition is based on a press release statement. There were no changes to the business model of Hyield Venture Capital as a result of this transaction, and there have been no transactions with the counterparty in the past year nor are any expected in the coming year.
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