Taiwan Stock Movers: Glotech, Nanya Technology, Ruentex, Yageo

Shares of the following companies had unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are as of the close in Taipei.

The benchmark Taiex Index rose 0.2 percent to 8,076.61, its third day of gains and highest close since March 15. The gauge climbed 0.3 percent this week.

Glotech Industrial Corp. (5475) (5475 TT), a maker of glass fiber cloth, added 0.9 percent to NT$11.70. The company plans to sell NT$800 million ($27 million) of secured convertible bonds to pay bank loans and replenish working capital, it said in a stock- exchange filing.

Nanya Technology Corp. (2408) (2408 TT) gained 6.9 percent to NT$3.08, its steepest increase since March 9. The chipmaker plans to sell as much as 3.8 billion shares in a private placement to replenish working capital, it said in a statement.

Ruentex Development Co. (9945) (9945 TT), which has stakes in China’s largest hypermarket operator, advanced 6.9 percent to NT$42.60, its highest close since Aug. 2. The company’s 2011 earnings per share rose to NT$3.44 from NT$1.39 a year earlier, according to an exchange filing.

Yageo Corp. (2327) (2327 TT), a maker of electronic parts, lost 1.3 percent to NT$9.56. The company has no plan to pay a dividend for 2011, it said in a statement. The company’s board also approved plans to sell up to 500 million shares through a private placement to fund operations and allow strategic investments.

To contact the reporter on this story: Gan Yen Kuan in Kuala Lumpur at ykgan@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.