Zeng Hsing Industrial Co., Ltd. (TWSE:1558) made a tender offer to acquire 21.6% stake in TURVO International Co., Ltd. (TWSE:2233) for TWD 1.7 billion on June 6, 2022. As per the terms, Zeng Hsing Industrial will acquire 13 million shares at TWD 130 per share in cash. If all conditions of the Tender Offer have been satisfied, the tendered shares and all considerations for this Tender Offer will be delivered within 5 business days (including the 5th business day), after the expiration of the Tender Offer period. The source of funds for the Tender Offer is its own funds. This Tender Offer will be a success if the acquisition ratio exceeds the minimum number of shares. Tender Offer period is from June 8 to July 6, 2022. Ernst & Young Taiwan acted as Due Diligence Provider to TURVO International Co., Ltd.

Zeng Hsing Industrial Co., Ltd. (TWSE:1558) completed the acquisition of a 21.56% stake in TURVO International Co., Ltd. (TWSE : 2233) on July 6, 2022.