Q Technology (Group) (HKG:1478) subscribed for an additional 20 million shares of its associate, Newmax Technology (TPE:3630), in a private placement at NT$22.16 apiece, a Monday bourse filing said.
The associate is engaged in the development of lenses applied to smartphones, augmented and virtual reality, and internet of things applications, among others.
The subscribed shares represent 9.8% of the enlarged issued shares of Newmax Technology, and after the placement, the company now holds 41.8% of the enlarged issued shares of the associate.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.