Singtex Industrial Co., Ltd. (TPEX:4433) made a bid to acquire the remaining 52.73% stake in GFun Industrial Corporation (TPEX : 4429) for approximately TWD 710 million on March 20, 2020. The consideration will be paid in combination of TWD 5 cash per share and exchange of 1.2 share. The Singtex directly owns 47.27% stake in GFun Industrial and upon completion it will own 100% stake in it, making it a wholly owned subsidiary.

The cash consideration will be funded from Singtex's own funds and will issue new shares for shares exchange. The completion is expected to take palce on March 31, 2022. Huang Guoshi of Kangchu United Accounting Firm acted as advisor in the transaction.

The acquisition will have a positive impact on the net value per share and earnings per share.