Phison Falls Most in 8 Months on Toshiba Stake Sale Speculation
April 13, 2011, 12:18 AM EDTBy Weiyi Lim
April 13 (Bloomberg) -- Phison Electronics Corp. slid the most in eight months in Taipei trading on speculation Tosbiba Corp. may sell its stake in the company, said Ryan Chen, an analyst at SinoPac Securities Corp.
The stock slumped 6.4 percent to NT$146 as of 11:57 a.m., set for the biggest drop since Aug. 19. Toshiba owns 12.36 percent of Phison, according to data compiled by Bloomberg. Camille Chen, a spokeswoman at Phison, said by telephone in Taipei she hasn’t heard about the speculation. Keisuke Ohmori, a Toshiba spokesman, said in a telephone interview in Tokyo he would make enquiries about the speculation.
To contact the reporter on this story: Weiyi Lim in Singapore at wlim26@bloomberg.net
To contact the editor responsible for this story: Reinie Booysen at rbooysen@bloomberg.net
