Ting Hsin’s Wei family bought back about 17% of Taipei 101’s equity, and the second director Wei Yingjia confirmed it

Taiwan Itochu announced on the 27th that it would transfer its 17.27% stake in Taipei Financial Building Company (Taipei 101) to Chengmei Venture Capital of the Wei family of Ting Hsin Group.

The Wei family of Ting Hsin Group is confirmed to return to Taipei 101! Taiwan Itochu announced on the 27th that it would transfer its 17.27% stake in Taipei Financial Building Company (Taipei 101) to Chengmei Venture Capital of the Wei family of Ting Hsin Group.

Chengmei Venture Capital is the private venture capital company of the Wei Yingjiao family, the second director of Ting Hsin Group. The transaction price per share is lower than the 38.7 yuan sold by Itochu to Pan-public shares last year. After the completion of the transaction, the Wei family will once again become the single largest shareholder of Taipei 101 private shares and return to the Taipei 101 shareholder board of directors.

Wei Yingjiao's office issued a statement saying that Mr. Wei Yingjiao is optimistic about the long-term development of Taipei 101 and will uphold the role of a financial investor in the future, supporting and fully respecting the pan-public equity-led management team. We look forward to working with all shareholders to witness the continued and steady growth of Taipei 101.

In 2009, under the banner of "Salmon Returning Home", the Wei family of Ting Hsin Group spent nearly 8 billion yuan to acquire Taipei 101 shares from shareholders such as Development Capital, China Life Insurance, Taishin Financial, Walsin Lihua and other shareholders at a cost of about 13 yuan per share, acquiring a total of 37.17% of the Taipei Financial Building.

At the end of 2014, Ting Hsin Group had reached an agreement with Cathay Financial and CITIC Financial, planning to purchase 7.73% and 6.12% of the shares respectively. If the transaction was successful at that time, Ting Hsin's shareholding would reach 51.02%, surpassing Pan-Public Holdings and becoming the largest shareholder. Unexpectedly, the Ting Hsin Group's Ting Hsin Oil and Justice Foods experienced bad oil incidents in early October of that year, setting off a storm of "annihilation" across Taiwan. The Wei family was forced to sell out the shares of Taipei 101, the "golden hen mother" and "the land of right and wrong", to Japan's Itochu to save the group's cross-strait business.

In August 2018, Ting Hsin Group completed the equity transfer with Japan's Itochu, selling all its 37.17% stake in Taipei 101 to Itochu for US$665 million (approximately NT$25 billion), officially bidding farewell to Taipei 101. Ting Hsin Group acquired the equity at 13 yuan per share and sold it at about 32.9 yuan per share. The price difference was more than 1.5 times. In addition, it received nearly 3 billion yuan in dividends over the past five years. Ting Hsin made nearly 16 billion yuan in profit that year. It was also a beautiful transaction.