TPK block called off after required filing not made

According to a term sheet, the largest shareholder in the Taiwanese touch-screen maker was aiming to raise at least $210 million by selling a quarter of its holding, but the deal was withdrawn after little more than one hour.

Global equity markets clearly remain difficult, but that was not why a sell-down in Taiwan’s TPK Holding was withdrawn on Friday, a little more than one hour after launch. Instead, the bookrunners were forced to cancel the sale after it emerged that the seller, a unit of German plastic components maker Balda, had not made the required filing with the Taiwanese stock exchange in time.

With a stake of about 16.1%, Balda is the largest...

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