DRAM maker Powerchip Technology has released a major portion of its share holdings in Rexchip Electronics and Maxchip Electronics to memory packaging firm Powertech Technology (PTI) to offset the amounts of accounts payable it owned to PTI, according to Powerchip.
Under the transaction agreement, PTI took up a total of 274.4 million Rexchip shares from Powerchip for NT$3.85 billion (US$130.86 million) or NT$14.03 per share and also a total of 181.8 million Maxchip shares for NT$1.503 billion or NT$8.27 per share.
After the deal, PTI became the third largest shareholder of Rexchip with a 9.317% stake as well as a major shareholder of Maxchip with a 36.36% share, according to the Chinese-language website MoneyDJ.