TAIPEI, Sept. 18, 2021 /PRNewswire/ -- PChome Online Inc.
(8044.TW) today (Sep.
17th, 2021) is pleased to announce a strategic
partnership with China Development Financial ("CDF"),
Chunghwa Telecom ("CHT") and the founders of 21st Century
Digital Technology Co., Ltd ("21CD"). The strategic
investors will jointly subscribe PChome's NT$1 billion private placement, representing
9,376,463 common shares of the company, or 7.35% of the enlarged
share base. The private placement is priced at NT$106.65 per share.
The strategic partnership, together with the industry leaders
from the financial and telecom industries, reinforces our mission
statement to build an "everyday reliable" product and service
portfolio to fulfill the consumers' demands. It's also a major step
forward for PChome to work together with strategic partners to
multiply the impact of "PChome ecosystem".
To strengthen the cooperation and unlock potential
synergies, PChome will subsequently acquire a controlling stake
(~50%) in 21CD by 1) investing NT$2.16
billion in cash to obtain the shares from its founders and
2) exchanging PChome's shareholding in its Fintech subsidiary Pi
Mobile Technology ("Pi") for 21CD's new shares, based on an
exchange ratio that 1 common share of Pi can be exchanged for
0.29795959 new common share issued by 21CD.
As an investment portfolio company of CDF's venture capital arm,
21CD is one of the fastest growing BNPL platforms in
Taiwan. Its BNPL service was also launched at PChome B2C
platform in the first quarter of 2021. With PChome ecosystem's
rich traffic and data flow from day-to-day transactions across
buyers and sellers, we believe the new partnership, including the
combination of 21CD and Pi, can significantly speed up PChome's
fintech business roadmap and its path to profitability, by
leveraging our partners' financial product knowhow, credit data
system, experienced management team, and capital support.
For more financial details, please visit the
Market Observation Post System.
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