SFA Semicon to proceed with voluntary delistingThe listed semiconductor company said that a total of 192.77 million common shares, which represent approximately 9.43 percent of the company’s total issued and outstanding shares, were validly tendered to and accepted by SFA Korea during the tender offer period from Oct. 14 to Nov. 12. MANILA, Philippines — SFA Semicon Philippines Corp. (SSP) is set to push through with its voluntary delisting from the Philippine Stock Exchange (PSE) following the successful completion of a tender offer by its parent company SFA Semicon Co. Ltd. (SFA Korea). SSP said the tendered shares were crossed by way of a special block sale through the facilities of the PSE on Nov. 21, which caused the minimum public float of the company to fall to approximately 0.59 percent. SFA Korea, which previously held 89.98 percent stake in SSP, raised its stake to 99.41 percent of the listed company’s total issued and outstanding common shares. The PSE has implemented a trading suspension on the shares of SSP following the execution of the block sale due to non-compliance with the rule on minimum public ownership requirement.

Source: Philippine Star November 22, 2024 17:32 UTC