Acer continues its sell-down of Wistron

The $103 million deal achieves a tight discount despite sizeable share price gains over the past four months.
In what has become to be regarded pretty much as an annual event, Acer last night sold $103.25 million worth of Global Depositary Receipts of Wistron Corporation, reducing its remaining stake in the electronics contract manufacturer to 7%.

The sale, which was arranged by Citigroup, was priced at the bottom of the indicated range which suggests some investors at least feel there is more juice left in the stock despite recent gains.

The share price has risen 35% from NT$37 in mid-November to a close of NT$50.10 yesterday. True, the price had been on a decline from its early January high of NT$50.90 on the back of weak shipments in the first...
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