Qisda makes public tender offer for up to 19% stake in Alpha Networks
Clients Qisda Corporation
Jones Day is advising Qisda Corporation (TSE: 2352) in its public tender offer (unsolicited) to purchase up to 103,071,688 common shares (or approximately 19% stake) of Alpha Networks Inc. (TSE: 3380) at NT$30 per share. The offered price constitutes a premium of around 35% over the Alpha Networks stock trading price immediately prior to the tender offer announcement.
Prior to the tender offer, Qisda was already a 23% shareholder of Alpha Networks. If the tender offer successfully closes at the maximum, the transaction would bring Qisda’s aggregate stake holding in Alpha Networks close to 43% and to become the largest shareholder. If the tender offer closes at the maximum of 19%, the value of the transaction would be around NT$$3,092 million (approximately US$103 million).