TAIPEI – Pao Chen Group said it would auction off 40% of its stake in PCB maker Global Brands Manufacture, one of the world’s largest printed circuit board fabricators.

HannStar Board (Wasin Lihua Group) already has said it would acquire the shares, at an estimated cost of NT$4.5 billion.

Upon the sale, Pao Chen, a contract shoe supplier for Nike and others, said its share in GBM would drop to 9.3%. The firm expects to make about NT$500 million from the deal.

HannStar is expected to become Taiwan`s No.3 PCB maker after the acquisition, with combined revenue of NT$50 billion.

Pao Chen has recently sold stakes in ODM Elitegroup Computer System, and is said to be considering selling LCD maker InfoVision Optoelectronics to AU Optronics.