Primary tabs

ASTI to dispose several subsidiaries for $100 mil

Samantha Chiew Published on Mon, Dec 18, 2017 / 7:23 PM GMT+8

A-

A+

SINGAPORE (Dec 18): ASTI Holdings has entered into a term sheet to dispose of the entire issued and paid-up share capital of several wholly-owned subsidiaries; collectively known as STI Group, to Shanghai Pudong Science and Technology Investment (PDSTI) for $100 million. This is more than ASTI's market value.

As at Dec 18, ASTI has a market capitalisation of about $60 million.

STI Group designs, builds and markets semiconductor manufacturing equipment used in the production of integrated circuits (IC), which are widely used in industries such as automotive, communications, consumer electronics, data processing and aerospace.