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FINWIRES

Taiwan Mask Mulls Private Placement of Up to 20 Million Shares; Shares Rally 10%

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-- Taiwan Mask (TPE:2338) board approved a plan to privately place up to 20 million shares in one to three tranches within a year, according to a filing with the Taiwan Exchange on Wednesday.

Shares of the photomask manufacturer jumped about 10% in Thursday's midday trade.

Proceeds from the offering are earmarked for working capital, factory expansion, machinery and equipment procurement, debt repayment, and other long-term development needs.

Potential subscribers may include insider and related parties such as Luminous Rise Investment, TrueLight Corp., Star Fusion Group, and ALi Corp. (TPE:3041), although no final placees have been selected, it said.

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