ASE to delist semiconductor testing unit

Taiwan's Advanced Semiconductor Engineering announces a deal to privatise its ASE Test subsidiary for an outlay of $784 million.

Advanced Semiconductor Engineering ASE is to spend $784 million buying out all minority shareholders in its 50.5%-owned subsidiary ASE Test.

The transaction will be effected via a scheme of arrangement in Singapore where ASE Test is incorporated. ASE Test shares are listed on Nasdaq and trade in the form of Taiwan depositary shares TDS on the Taiwan Stock Exchange each TDS represents 180 ASE Test ordinary shares.

In an all-cash deal, ASE will pay $14.78 for each share...

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