SINGAPORE (Sept 19): Semiconductor equipment manufacturer ASTI Holdings has entered into a non-binding agreement with China Fortune-Tech Capital Co. for the potential disposal of five wholly-owned subsidiaries related to Semiconductor Technologies & Instruments (STI).

While negotiations are still ongoing, ASTI says the indicative consideration for the transaction is around $105 million to $110 million. This is three times of ASTI’s current market capitalisation of $35.5 million from Bloomberg data.

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

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