[title]12% of Abit Shares Change Hands[/title]
Foxconn Electronics (the registered trade name of Hon Hai Precision Industry) denied yesterday that it has invested in the financially troubled Abit Computer by scooping up its shares in Taiwan?¡¥s stock market. Share prices of Abit opened limit-down but ended limit-up at NT$2.25 on the TAIEX (Taiwan Stock Exchange), Wednesday, after dropping for 20 consecutive sessions on concerns of alleged fraud in its transaction records.
A total of 100.8 million Abit shares, or a 12.07% stake of the company?¡¥s outstanding shares, were transacted on the TAIEX Wednesday, indicating that there were investors picking up Abit shares, with market sources pinpointing Foxconn as the prospective buyer.
Meanwhile, sources at Abit stated that the company is now in talks for possible business cooperation with a number of IT companies, including those that do not produce motherboards. After Wednesday?¡¥s rally, Abit?¡¥s share price was down NT$0.15 to finish at NT$2.10, Thursday, in line with a 0.4% decline of the weighted price index of the TAIEX, according to the TSE.
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