Hengs Technology Co., Ltd. (GTSM:4582) announced a private placement of 9,767,000 common shares at a price of TWD 20.5 per share for gross proceeds of TWD 200,223,500 on September 10, 2020. The transaction will include participation from returning investor, Ta Ya Electric Wire & Cable (TSEC:1609). Post the closing, the investor will hold 83,015,793 shares and 84.999% stake in the company.

The transaction is expected to close on September 24, 2020. The transaction has been approved by the board of directors of the investor and the Audit Committee.