THE Philippine Stock Exchange (PSE) on Monday approved the planned voluntary delisting of SFA Semicon Philippines Corp. (SSP).
SSP’s shares will be delisted from the exchange’s official registry on Dec. 12, the PSE said in an announcement on its website.
On Nov. 25, SSP announced the completion of a tender offer by its South Korea-based parent company, SFA Semicon Co. Ltd. (SFA Korea), which took place from Oct. 14 to Nov. 12.
The tender offer saw 192.77 million common shares validly tendered, representing 9.43% of SSP’s total issued and outstanding shares.
The tendered shares were bought by SFA Korea at P2.22 apiece, equivalent to P427.96 million.
SSP disclosed its voluntary delisting plan in August. The company has business interests in the manufacturing and assembly of semiconductors and memory devices. — Revin Mikhael D. Ochave
