United Renewable Energy (TPE:3576) sold 2.2 million shares of Taiwan Specialty Chemicals, at a price not lower than NT$210 per share, according to a Tuesday Taiwan Exchange filing.
The shares may be sold in one or multiple transactions, and the total disposal is expected to be at least NT$467.4 million.
Proceeds will be used to revitalize assets and repay bank loans, it added.
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