CTBC Bank to Acquire Shares in Hanmin Test Systems IPO via Competitive Auction
Original: 代子公司中國信託商業銀行公告擬以競價拍賣方式取得漢民測試系 統股份有限公司首次公開發行之股票
Summary
CTBC Financial Holdings disclosed, on behalf of its subsidiary CTBC Bank (China Trust Commercial Bank), that the bank intends to acquire shares of Hanmin Test Systems Co., Ltd. through a competitive price-bidding auction as part of the company's initial public offering. In Taiwan's IPO framework, the competitive-auction tranche is a separate allocation mechanism from the public lottery subscription, in which qualified institutions submit above-floor-price bids and pay their bid price upon allocation. This represents a strategic equity investment by the banking subsidiary at the IPO stage. Full body available on MOPS.
Full Translation
On behalf of its subsidiary CTBC Bank (China Trust Commercial Bank / 中國信託商業銀行), CTBC Financial Holdings Co., Ltd. announces that the bank plans to acquire shares of Hanmin Test Systems Co., Ltd. (漢民測試系統股份有限公司) through a competitive price-auction mechanism (競價拍賣方式) in connection with that company's initial public offering (首次公開發行, IPO) on a Taiwan stock exchange. Under Taiwan's IPO regulations, the competitive-bidding tranche runs concurrently with the general public subscription; institutional and qualified investors submit price-quantity bids above a designated floor price, and successful bidders receive shares at their individual bid prices rather than a uniform clearing price. This filing signals CTBC Bank's intention to become a direct shareholder of Hanmin Test Systems from the time of its market debut, reflecting an equity investment decision by the subsidiary that requires disclosure as a material event under Taiwan's securities laws. [Body not available — subject line only. See MOPS for full announcement.]