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Wistron Participates in SEO at No More Than NT$1.8 Billion for Master Transportation to Expand EV Investment

published: 2021-11-09 9:30

Wistron recently convened a board meeting, which not only passed the third quarter financial report for 2021, but also approved the proposal that is related to the company signing a letter of intent for share subscription within NT$1.8 billion to participate in the seasoned equity offering (SEO) of Master Transportation that will expand the layout of EVs.

Wistron has been aggressive in its recent penetration of the auto market. Dingchong, a 100% owned subsidiary, announced in October that the company’s board of directors had approved the equity acquisition agreement with JDIT, which saw the company in acquiring 100% of KOE with JPY8.582 billion (approx. NT$2.146 billion). The settlement is expected to complete in the fourth quarter this year.

Through this acquisition, Wistron not only enhances the cooperation with JDI, but also expects to expand its LCM business to auto applications and industrial products, which strengthens the company’s global manufacturing territory.

Now, Wistron has also announced to participate in the SEO of Master Transportation from an amount no more than NT$1.8 billion, which indicates the company’s determination in marching towards the auto market. Master Transportation is a coach manufacturer in Taiwan, and started researching and developing electric bus since 2016.

To respond to business development and strategic planning, Wistron Property (Vietnam) Co., Ltd. (WPVN), a subsidiary of Wistron in Vietnam, is planning for a capital expenditure of no more than US$29.3 million.

Simultaneously, Wistron plans to allocate no more than 6,000 common stocks of Wiwynn during appropriate times in order to exert effectiveness and attain profitability for company funds.

The board meeting of Wistron also passed the third quarter financial report of 2021. The company generated a revenue of NT$220.392 billion in the third quarter, with a net operating profit of NT$4.448 billion, alongside a profit before tax of NT$2.395 billion, and a profit after tax of NT$827 million, as well as an EPS of NT$0.3. Wistron accumulated a total of NT$598.630 billion in revenue, with a net operating profit of NT$10.866 billion, alongside a profit before tax of NT$10.514 billion, and a profit after tax of NT$5.092 billion, as well as an EPS of NT$1.83, from the first three quarters of the year.

 (Cover photo source: Wistron)

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