Acer plans to sell 50 million BenQ shares

Taiwan-based Acer Inc, the world's fourth largest branded personal computer vendor, said on April 17, it plans to release 50 million shares in cell handset maker BenQ through global depository receipts.
After the sale, Acer's stake in BenQ will be reduced to about five percent from the current 7.2 percent to become the second largest shareholder, next to flat panel display maker AU Optronics' 5.2 percent, an Acer official said.
However, no timetable for the sale has been set, the official said, adding it is all up to the market climate.
In December, Acer sold 50 million BenQ shares via GDR issue.
BenQ, a supplier of computer, communications and consumer electronics products, acquired Siemens' mobile phone handset business last year, making itself the world's fourth-largest mobile handset maker and the leader in the greater China region.