Winbond Electronics has subscribed to new shares issued by Nuvoton Technology, and raised its stake in the logic IC specialist to 61.6%, according to a company filing with the Taiwan Stock Exchange (TWSE).

Nuvoton issued up to 80 million new shares at NT$45 (US$1.47) each, with a goal of raising NT$3.6 billion for strengthening its working capital.

Winbond disclosed it spent a total of NT$2.27 billion buying additional Nuvoton shares.

Nuvoton also has plans to issue up to 150 million new common shares in the form of global depository receipts (GDR), which will be discussed and brought to a vote at an extraordinary shareholders meeting scheduled for December 6.

Nuvoton has as high as 70-80% of its total revenues generated from its MCU product line. Nuvoton also provides audio SoC solutions, speech ICs, and TPM (trusted platform module) and BMC (baseboard management controller) chips, and operates a 6-inch fab.

By: DocMemory
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