HONG KONG, March 13 (Reuters) - Dutch semiconductor equipment maker ASM International NV launched on Wednesday an up to $457 million selldown in its Hong Kong-listed unit ASM Pacific Technology, IFR reported, citing a term sheet of the transaction.
ASM International, through its ASM Pacific Holding BV subsidiary, is offering 39.92 million shares of ASM Pacific in a range of HK$88.88 to HK$91.77 each, putting the total deal at up to HK$3.66 billion, the terms showed.
The price is equivalent to a discount of up to 8 percent to Wednesday’s close of HK$96.60, added IFR, a Thomson Reuters publication. The offering may be raised by another 7.5 million shares if an upsize option is exercised, the terms showed.
HSBC and Morgan Stanley were hired as joint bookrunners on the deal.
ASMI had disclosed plans for a selldown in the Hong Kong-listed unit, without citing details of the sale.