Foxlink to boost capital, expand shares 100% for Fu Shi Lin
Foxlink’s ( ) board of directors announced a capital increase and share expansion by 100 percent for subsidiary company Fu Shi Lin International Investing ( ), and reinvestment in Central Pictures (
) on April 2. The investment in Central Pictures is estimated to be around NT$900 million, at NT$60 per share. Foxlink has also acquired Central Picture’s NT$15 million capital increase by cash, and a shareholding ratio of 13.6 percent. Central Pictures’ contributed capital is at NT$703 million, and in this scheme, the company plans to manage a cash capital increase at NT$400 million, issuing 40 million ordinary shares at a premium, and a NT$60 per share rate. They also estimate raise NT$2.4 billion in cash to pay back banks, improve the company’s financial structure, and decrease its debt ratio from 59.5 percent to 33.2 percent. Central Pictures operates mainly in the movie industry, including cinema management, pre-shooting and post-production, as well as movie investments. Central Pictures has invested in local blockbusters from Jump Ashin! ( !
) to Seediq Bale (