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July, 29, 2016

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VIA announces plan to reduce capital by 50 percent to make up for losses

Chip designer VIA Technologies Inc. yesterday announced a plan to reduce capital by 50 percent to make up for its loss.

After the reduction, the firm's capital will be about NT$4.93 billion, bringing the stock's net worth up to NT$17.52 a share.

After the announcement, Via shares tumbled and closed at NT$14.65, its daily limit.

The company last year had loss of NT$3.43 billion, or loss per share of NT$3.48, due to weak demands in the market.

The loss was recognized yesterday at the firm's shareholders meeting, presided over by Cher Wang, chairwoman, and her husband, CEO Chen Wen-chi.

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