David Sun, co-founder of the world's top DRAM module maker Kingston Technology, personally has taken up a portion of Phison Electronics shares released by Toshiba for NT$600-700 million (US$20-24 million), according to market sources.
Toshiba reportedly disposed of six million Phison shares on December 20. The sale, worth around NT$1 billion, would reduce Toshiba's holding in Phison to 11.99% from 16% originally.
Phison's employees subscribed to the remaining 30% of the released shares, the sources indicated.
Phison shares hit a high of NT$171 in early trading today (December 27), up from the closing price of NT$164.50 on December 24.
Kingston itself is already the second-largest shareholder of Phison with a 6.5% stake, according to previous reports.