Tong Hsing Electronic Industries, Ltd. (TSEC:6271) agreed to acquire Kingpak Technology Inc. (GTSM:6238) for TWD 10.9 billion on December 27, 2019. Tong Hsing Electronic Industries will issue 72.27 million shares at 1.244 Tong Hsing shares for every 1 Kingpak share. Kingpak is to become a wholly owned unit of Tong Hsing and be delisted from the Taipei Exchange when the merger is completed in June 2020.

The transaction is subject to approval from authorities. The Board of Directors of Tong Hsing approved the transaction. The transaction is expected to complete by June 30, 2020.