Dutch parent sells $550 million of shares in ASM Pacific Technology

The deal comes after a study aimed at boosting the overall valuation of the parent company and attracts strong interest from event-driven hedge funds as well as long-only investors.

Dutch parent sells $550 million of shares in ASM Pacific Technology

The Dutch parent company of Hong Kong-listed ASM Pacific Technology last night sold a 12% stake in the Hong Kong subsidiary through a block trade, raising HK$4.27 $550 million.

The deal, which was well received and upsized in full, came after the parent company, Amsterdam- and Nasdaq-listed ASM International, appointed two financial advisers in May last year to look into how to reduce the valuation gap between the front-end part of its business,...

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