Asat sets ADS price range of $11 to $14 for Nasdaq IPO

Asat aims to capitalize on a booming semiconductor market to list 20 million American depositary shares on Nasdaq.

Asat, the world's third-biggest independent semiconductor packaging and testing company, hopes to raise up to $280 million in its initial offering of 20 million American depositary shares ADS on Nasdaq, according to lead-manager Salomon Smith Barney.

The company aims to sell each ADS for between $11 and $14. Each ADS will represent five underlying Asat shares. An additional 3 million ADS are being set aside for an overallotment option. If the ADS are sold at the top end of...

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