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Au Optronics Corp's subsidiary to spin off new subsidiary


Friday, 17 Jan 2014 02:31am EST 

Au Optronics Corp:Says its subsidiary, a Taiwan-based silicon provider (Subsidiary A), will spin off its assets related to the management of M.setek Co Ltd, worth T$443,948,000, into a new subsidiary, a material company (Subsidiary B).Says Subsidiary B will issue 29,635,794 shares to the shareholders of Subsidiary A, with an exchange rate of 25.22195 shares of Subsidiary B for every 1,000 shares of Subsidiary A, for the spin-off.Says expected spin-off effective date of Apr. 1.