Arisawa Mfg. Co., Ltd. (TSE:5208) made an offer to acquire remaining 47.7% stake in ThinFlex Corporation (GTSM:3144) from Chang Wah Electromaterials Inc. (TSEC:8070) and others for TWD 1.7 billion on December 2, 2020. Under terms, Arisawa Mfg made offer to acquire 48 million shares of ThinFlex Corporation at TWD 36 per share.

This offer is subject to acquire a minimum of 17,813,244 shares representing 17.7% stake in ThinFlex and clearance is acquired by the Investment Council and Financial Supervisory Commission of Taiwan. The Arisawa Board of Directors resolved this transaction on December 2, 2020. The tender offer period starts from December 8, 2020 to January 26, 2021.

The share will be transferred on February 1, 2021. Nomura Holdings, Inc. acted as financial advisor to Arisawa.