Abit Helped by Large Investment
Subject: Motherboards | April 25, 2005 - 10:37 AM | Ryan Shrout
I am sure many of you remember the trouble that Abit found itself in financially when they came under investigation by the Taiwan version of the SEC, but now things seem to be looking up for the motherboard manufacturer. A new investor in the form of the CEO of the largest transportation group in Taiwan, has put in enough of of his own money to become a majority share holder. Now, I don't know what affect this is going to have on the company in general, their product lines or anything, but we'll be meeting with them extensively over the coming months to find out.
We managed to find out that the original capital of Abit was around NTD 8.5 billion (USD 281,200,000) and with the new major investment plus some minor ones its capital rose to NTD 12.5 billion (USD 418,200,000).
Abit stocks went up today as its stock holders liked to learn that Abit has strong finances again and that it can continue its operation with no money problems in mind.