TPE:2345

Accton Technology Redeems Units in Three Funds Worth $41 Million

Accton Technology (TPE:2345) redeemed units in three funds for a total transaction value of $40.6 million, according to a Wednesday filing.The redemptions comprised $4.6 million of JPMorgan Funds-Global Short Duration Bond Fund, $10.4 million of JPMorgan Funds-USD Money Market VNAV Fund and $25.6 million of Fidelity Funds-US Dollar Cash Fund.The company preliminarily estimates a gain of about $1 million from the disposals.

Accton Technology's Vietnam Unit to Acquire Right-of-Use Assets for $15 Million; Shares Drop 4%

Accton Technology (TPE:2345) board approved the acquisition of right-of-use assets for its unit, Vietnam Accton Technology, for $15.1 million, according to a Monday Taiwan Exchange filing.Shares fell over 3% in Tuesday's early afternoon trade.The assets will be acquired from CSI SEMICON. The acquisition covers land measuring about 24,861 square meters and buildings with a floor area of about 38,256 square meters in Phu Tho Province, Vietnam.The deal is a part of the company's long-term expansion plan, it said.

Accton Technology to Inject $35 Million in Singapore Unit; Shares Drop 4%

Accton Technology's (TPE:2345) board approved a $35 million capital injection into its unit, Accton Technology SG, under its long-term investment plans, according to a Monday Taiwan Exchange filing.Shares fell about 4% in Tuesday's late morning trade.The investment will be funded through internal resources.Following the transaction, Accton's cumulative investment in the Singapore unit will rise to about $126.8 million, the filing said.

UBS Starts Accton Technology at Buy with NT$3,400