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 ASM International group makes equipment for the production of semiconductors, such as this 300mm wafer (AFP)

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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