On March, 28, Ennostar’s Board of Directors decided to get away a rights issue (Private Equity) of 70,000,000 common shares to raise funds for constructing a 6-inch Micro LED wafer fab and purchasing equipment for epitaxy and chip fabrication.

AUO, one of the directors of Ennostar, will subscribe 67,250,000 shares and Innolux 2,750,000 shares.

Share price is tentatively 90% of the reference price. Ennostar explained that rights issue can quickly raise money and the shares are non-transferable within three years as stipulated, which can ensure the long-term cooperative relationship between Ennostar and the subscribers and confidentiality of the company’s technologies and patents. Thus, Ennostar opts for a rights issue to raise capital, strengthening the flexibility of capital source.

For this rights issue, subscribers are confined to specific persons under the No.6 of item 43 of the Securities Exchange Act and should be strategic investors, who have a comprehensive knowledge of the company’s business or the industry development and can directly or indirectly contribute to the company’s future development.

Besides, Ennostar also announced the ex-dividend trading date is 111/06/16 and the last transfer date is 111/06/17. Book closure date starts on 111/06/18 and terminates on 111/06/22. Ex-dividend basis date is 111/06/22 and the date of dividend payout is 111/07/14.

(Source of the image: Ennostar)

By LEDinside