Compal Electronics, Inc. completed the acquisition of 56.03904% stake in Poindus Systems Corp. for approximately TWD 350 million.
March 06, 2022
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Compal Electronics, Inc. (TWSE:2324) made an offer to acquire 65% stake in Poindus Systems Corp. (TPEX:6599) for approximately TWD 410 million on February 10, 2022. As per the transaction, Compal Electronics, Inc. made the offer to acquire minimum of 10.71 million shares (51%) and maximum of 13.65 million shares (65%) at TWD 30 per share. Transaction will be funded through self owned funds. Transaction is subject to achieving minimum acceptance of 10.7 million shares. The Board of Directors of Compal Electronics has resolved the transaction. Compal held a Board meeting today (10th) and approved the acquisition of Poindus. The offer period will commence from February 11, 2022 to March 7, 2022. KGI Securities Co. Ltd. acted as tender offer agent in the transaction. Chi-Sheng and Chiu of Crowe Horwath International, Taipei Office acted as accountant to Compal Electronics, Inc. As on March 2, 2022, all the conditions of the transaction has been satisfied.
Compal Electronics, Inc. (TWSE:2324) completed the acquisition of 56.03904% stake in Poindus Systems Corp. (TPEX:6599) for approximately TWD 350 million on March 7, 2022.
Poindus Systems Corp is a Taiwan-based company mainly engaged in the design, manufacture, and sale of Point of Sales systems (POS), industrial computer monitors and peripheral products. The POS system is composed of a POS computer host, a screen, barcode printers, programmable keyboards, and other peripheral equipment, and is combined with various software to form an information system that can read and collect various sales, purchase, and inventory data. The products are mainly used in the catering industry, retail industry, logistics industry, department stores and other fields. The Company distributes products in Taiwan, America, Europe, Africa, Asia, and other regions.