JCET announces 'firm intention' to make offer for STATS ChipPAC
A CONSORTIUM led by China's Jiangsu Changjiang Electronics Technology Co (JCET) announced its "firm intention" to make an offer for Singapore's mainboard-listed STATS ChipPAC.
As part of the offer agreement, STATS ChipPAC on Friday announced a proposed offering of perpetual securities by way of a non-renounceable rights issue to raise gross proceeds of US$200 million.
The perpetual securities will be offered to shareholders on the basis of one perpetual security for every 11,011 shares held by shareholders as at the books' closure date.
Singapore Technologies Semiconductors Pte Ltd (STSPL) - a wholly owned subsidiary of Temasek Holdings - has, subject to certain conditions, undertaken to subscribe for both its pro rata share of the perpetual securities and all other perpetual securities not subscribed by the other shareholders, up to an aggregate maximum amount of US$200 million. As at Friday, STSPL holds about 83.8 per cent of all the issued shares.
READ MORE:
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Keppel Infrastructure Trust posts 29.1% lower Q1 distributable income
Elite Commercial Reit’s Q1 DPU down 21.2% to £0.0067
Airbus called for compensation to take on money-losing Spirit operations: sources
Olam outbids Dreyfus’ sweetened deal for Australia’s Namoi, raises offer to A$0.66 per share
Booking says room reservations to slow amid Middle-East conflict
Deutsche Bank unveils wealth targets after hiring push in Asia