PChome Will Buyback Outstanding Shares of PChomeStore at NT$44/share
To Support Privatization and Regional Market Development
PChome Online (8044-TT) today (May 8th) announced that its subsidiary— PChomeStore (4965-TT) has passed the proposal of Termination of TPEx Trading and Voidance of Public Trading, and will file for privatization to TPEx. Positive about the development potential of PChomeStore in mobile commerce, PChome has approved to buyback the outstanding shares of PChomeStore at NT$44/share in Board of Directors meeting today. PChomeStore will do capital restructure and business repositioning to adopt itself with high-growth mobile commerce service and expand its market in the region more proactively.
“PChomeStore has reached NT$12 billion (US$400 million) quarterly GMV in 1Q18. It is already the No.1 in mobile commerce in Taiwan. PChomeStore is now an energetic startup with high growth. Filing for privatization, the company will have more flexibility to develop business potential. After privatization, PChomeStore will do capital restructure and proactively expand its market in the region. We will consider re-entering capital market with a whole new structure in the future.” Chairman of PChome Online – Hung-Tze Jan said.
Since IPO in 2011, PChomeStore has attracted more than 92,000 vendors to open online stores and its new business — Personal Store has injected powerful energy to PChome group within only one year. PChome Online is positive about the future potential of PChomeStore and will integrate payment, logistics, data analytics and other operational tools in the group to support the development of PChome Store. We believe PChomeStore can enjoy a broader scope of possibilities after
privatization and it will proactively seek for new market opportunities overseas.
