Chartered's offer postponed as turmoil takes toll

Market turmoil has claimed another victim as Chartered Semiconductor postpones its $1.8 billion secondary placement.

Chartered Semiconductor, the Singapore semiconductor manufacturer,ápostponed its secondary share offer due to the massive market volatility in the US and Asian markets. The deal was to sell 15.68% of the fully diluted share capital of the company in a mix of new and old shares. The sale would haveáraised an estimated $1.8 billion. The company is already listed in Singapore and New York and the new shares were due to be sold into those markets onáApril 18.

The deal was postponed after a week of extensive road shows, organized through two teams from the company and their underwriters, Salomon Smith Barney and CSFB. The two teams saw over 100 investors in the...

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