Himax Technologies, Inc. [NASDAQ: HIMX] disclosed that it has launched a share Purchase Plan. The company confirmed that its Chairman Dr. Biing-Seng Wu is planning to make use of his own personal funds to acquire up to around $10 million of the Company’s American Depositary Shares (ADSs) in the open market, dependent on market conditions and other factors.
It has been disclosed that Dr. Biing-Seng Wu beneficially holds around 21.4% of the total outstanding shares of the Company as of September 30, 2021. Furthermore, Dr. Biing-Seng Wu’s share purchase plan will be completed in line with the manner, timing, price, and volume conditions of Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934.
Moreover, the share purchase plan highlights the management’s enormous confidence in the Company’s long-term prospects. Shares of Himax Technologies, Inc. [NASDAQ: HIMX] plunged -1.66% during the pre-market trading session of Friday. In addition, the company has a total market capitalization of $1.79 billion at the time of writing.
Himax Technologies, Inc. has earned a reputation as a provider of fabless semiconductor solutions focused on display imaging processing technologies. Himax is a dominant player in display driver integrated circuits (ICs) and timing controllers used in TVs, laptops, monitors, mobile phones, tablets, automotive. Moreover, it is also used in digital cameras, car navigation, virtual reality (VR) devices, and many other consumer electronics devices.