21 February 2019

Luxshare taking over half the Speed Tech board seats, paper says

Luxshare Precision Industry Co. Ltd. (002475.CN), China’s largest wire maker, will gain more seats on the board of Taiwan’s Speed Tech Corp., Economic Daily News reported Friday, without citing any source. Newly added board seats will be taken by Luxshare’s wholly-owned subsidiary in Hong Kong, it said. Once the process is completed, Luxshare, which was the first mainland firm to buy equity stake in a Taiwan-listed firm, will have the distinction of being the first Chinese entity to have more than half the board seats in a Taiwan firm, the paper said.

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