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3355 - Advanced Semiconductor Manufacturing Co News Story

HK$1.49 0.0  0.0%

Last Trade - 17/01/19

Sector
Technology
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £120.4m
Position in Universe th / 5992

BUZZ -HK-listed Advanced Semiconductor hits year high on buyout offer

** Shares of Advanced Semiconductor Manufacturing Co Ltd
 3355.HK  (ASMC) soar as much as 54.4 pct to HK$1.39, the
highest since Nov. 7, 2017, after a unit of its major
shareholder offers to take the firm private at a premium 
    ** The stock of the semiconductor wafers maker is set for
the biggest daily percentage gain since listing in April 2006
    ** GTA Semiconductor Co Ltd proposes to take ASMC private by
offering HK$1.50 apiece for ASMC Hong Kong-listed shares
 urn:newsml:reuters.com:*:nFWN1XA10W
    ** The price represents a 66.67 pct premium over the
previous close 
    ** GTA intends to finance the deal from a loan facility
granted by its controlling parent Huada Semiconductor Co Ltd, a
unit of state-owned China Electronics Corp Ltd
    ** GTA does not own any ASMC shares, while its parent Huada
owns about 20 pct of ASMC
    ** As of the last close, ASMC shares have fallen 5.3 pct so
far this year
    ** ASMC has outperformed the Hang Seng Commerce & Industry
Index sector  .HSNC  by 34.2 percentage points in the past one
month 

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)
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