PChome Online, Eyeing Fintech and BNPL Opportunities Announce NT $ 1 Billion Private Placement to Introduce China Development Financial (2883.TW) and Chunghwa Telecom (2412.TW) as Strategic Investors

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TAIPEI, September 17, 2021 / PRNewswire / – PChome Online Inc. (8044.TW) today (September 17e, 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”). Strategic investors will jointly subscribe to the 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.

0917 【PChome news photo】 PChome Online, Seeking Fintech and BNPL Opportunities, Announces NT $ 1 Billion Private Placement to Present China Development Financial and Chunghwa Telecom as Strategic Investors

The strategic partnership, in conjunction with industry leaders in the financial and telecommunications sectors, reinforces our mission statement to build a portfolio of “everyday reliable” products and services to meet consumer demands. It is also a big step forward for PChome to work with strategic partners to multiply the impact of the “PChome ecosystem”.

To strengthen cooperation and unlock potential synergies, PChome will subsequently acquire a majority stake (~ 50%) in 21CD in 1) investing NT $ 2.16 billion in cash to obtain the shares of its founders and 2) exchange PChome’s stake in its subsidiary Fintech Pi Mobile Technology (“Pi”) for new shares of 21CD, on the basis of an exchange ratio according to which 1 share ordinary Pi can be exchanged for 0.29795959 new ordinary share issued by 21CD.

As an investment holding company of the venture capital arm of CDF, 21CD is one of the fastest growing BNPL platforms in Taiwan. Its BNPL service was also launched on the PChome B2C platform in the first quarter of 2021. With the rich traffic and data flow of the PChome ecosystem coming from the daily transactions between buyers and sellers, we believe the new partnership, including including the combination of 21CD and Pi, can dramatically accelerate PChome’s fintech business roadmap and path to profitability, leveraging know-how in financial products, credit data system, experienced management team and capital support from our partners.

For more financial details, please visit the Market Observation Post System.

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SOURCE PChome online Inc.


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