SFA Semicon Philippines Corp. said Thursday it is voluntarily delisting its shares from the Philippine Stock Exchange.
SSP said the P2.22 per share acquisition price is the highest valuation of the company’s shares based on the fairness opinion and valuation report prepared by R.G. Manabat & Co. The company has public float of 10.01 percent with 204.662 million common shares being held by minority investors. At P2.22 per share, SFA Korea will spend P454.34 million to acquire all shares held by minority investors.
“The company intends to file with the PSE the petition for voluntary delisting, and SFA Korea intends to launch the tender offer in support of the petition for voluntary delisting, as soon as stockholders’ approval on the voluntary delisting is obtained by the company,” SSP said.
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