Taiwan Stocks: Inotera Memories, Nan Ya Printed, Uni-President
Shares of the following companies had unusual (TWSE) moves in Taiwan trading. Stock symbols are in parentheses and prices are as of the close in Taipei.
The Taiex Index advanced 0.4 percent to 6,922.57.
Inotera Memories Inc. (3474) (3474 TT) surged 6.8 percent to NT$4.38, the highest close since Nov. 17. The memory chipmaker plans to sell up to 1.5 billion new shares at NT$3.75 each, up to NT$5 billion ($165 million) of convertible bonds to Nanya Technology Corp. (2408 TT) and Micron Technology Inc.
Nan Ya Printed Circuit Board Corp. (8046) (8046 TT) lost 2.5 percent to NT$61.60, the lowest close since Feb. 25, 2009. The printed circuit board maker was kept at “sell” at Citigroup Inc., which cut its share-price estimate 21 percent to NT$57.
Uni-President Enterprises Corp. (1216) (1216 TT) retreated 2.3 percent to NT$42.25, the biggest decline since Nov. 16. The food manufacturer was cut to “neutral” from “buy” at Goldman Sachs Group AG.
To contact the reporter on this story: Weiyi Lim in Singapore at firstname.lastname@example.org
To contact the editor responsible for this story: Darren Boey at email@example.com