ASMPT Subsidiary to Sell 49% Stake in Hong Kong Materials Product Manufacturer

MT Newswires Live03-03

ASMPT's (HKG:0522) subsidiary, ASMPT Hong Kong Holding, signed an agreement for the sale of its 49% stake in a Hong Kong-incorporated company engaged in the production and trading of materials products to Shenzhen Original Advanced Compounds (SHA:603991), according to a Monday filing with the Hong Kong bourse.

ASMPT Hong Kong will acquire 29 million new shares in Shenzhen Original Advanced Compounds for 2,885 ordinary shares in the target as the first phase of the transaction. The second phase of the deal involves the payment of 789 million yuan in cash for ASMPT Hong Kong's remaining stake in the target.

The deal will see ASMPT holding an 18% stake in Shenzhen Original Advanced Compounds following completion. It aligns with ASMPT's strategy to focus on semiconductor manufacturing.

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