Chi Mei Corp (奇美實業), a leading synthetic and electronic materials supplier, yesterday said that it has incurred more than NT$1 billion (US$35.89 million) in losses after disposing of some of its stake in flat panel maker Innolux Corp (群創光電).
The sale of about 183.71 million Innolux shares, representing a more than 2 percent stake in the company, came after a rethink about how it wanted to reallocate its funds, Chi Mei said in a filing with the Taiwan Stock Exchange.
The company disposed of the Innolux shares in four transactions between Aug. 10 and Wednesday last week and it rceived NT$3.26 billion