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OSRAM, a German lighting company, announced last week that it will invest in the construction of an LED chip factory in Malaysia, and it was immediately opposed by the fifth largest shareholder slamming the wrong timing and diluting profits. After the news of the factory was announced, the stock price also fell 25% and hit the company's biggest single-day decline. According to Reuters, Osram has announced that it will invest 1.1 billion US dollars to build LED chip factories in Malaysia, so that the original investors expect the company to switch to the profitable car or street lighting market after the sale of lighting.
Michael Muders, manager of the fifth largest shareholder holding a 2% stake in Osram, said, “Shareholders have lost a lot of money and have lost trust in management.”
In the past four years, OSRAM has cut off one-fifth of its production capacity due to its inability to compete with Asian rivals. The German monthly magazine magazine reported earlier that Muders was "shocked" by the new growth strategy.
Last Wednesday, after OSRAM announced its new plan, its stock fell by a quarter and set a record for the company's biggest downside on a single trading day. On the same day, at a trading price of 39.04 euros, although it fell by 24%, it rebounded by 0.7%, but it almost did not recover.
“There is no indication that they will consider strategic returns, and we should quit,” Muders said. At the same time, he added, "If the strategy has not changed, he will vote against the board at the shareholders meeting in February next year."
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