WT Microelectronics' (TPE:3036) board has approved the redemption of all outstanding Class A preferred shares at the original issue price and the termination of their listing, according to a Thursday Taiwan Exchange filing.
Shares dropped about 3% in Friday's late afternoon trade.
Trading in the preferred shares will be suspended from Feb. 12.
The record date for redemption and delisting is Feb. 26, with the book closure period running from Feb. 22 to Feb. 26, it said.
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