CMC Magnetics Sells Stake in Phison Electronics Worth NT$306 Million; Shares Drop 5%

MT Newswires Live

04/23

CMC Magnetics (TPE:2323) sold 175,000 shares in Phison Electronics for a total of NT$306.3 million, according to a Wednesday Taiwan Exchange filing.

Shares dropped about 5% in Thursday's afternoon trade.

The shares were sold at an average price of NT$1,750.02 each, generating a gain of NT$2.51 million.

Following the transaction, CMC Magnetics still holds 509,000 shares in Phison, representing a 0.23% stake.

The company said the disposal was part of its portfolio management strategy.

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