TAIPEI (Taiwan News) — Taiwanese electronic components maker CviLux on Friday announced a tender offer to acquire 15% of Cystech Electronics’ outstanding shares.

The offer runs from Thursday to March 10 at NT$104 (US$3.30) per share. The price represents a 21% premium over Cystech’s closing price of NT$85.8 on Friday, according to CNA and Anue.

The maximum acquisition of 5.19 million shares could reach NT$539.9 million. The tender will still be deemed successful if fewer shares are tendered, as long as at least 5% of Cystech’s total shares are submitted.

Both CviLux and Cystech are over-the-counter listed companies, which are typically smaller than main board-listed companies and are often in a growth stage. They are subject to less stringent listing requirements, according to Pocket Securities.

CviLux, founded in 1990, makes connectors and cable assemblies for consumer electronics and optoelectronic applications, according to MoneyDJ. The company said the tender offer is primarily a financial investment.

CviLux said Cystech has demonstrated a solid operating performance in recent years, with stable profits and regular dividends. It added that it hopes to pursue further collaboration and resource integration after the tender offer.

Cystech produces and retails electronic components. Its main products include power components used in everyday electronic devices, according to MoneyDJ.