A few days ago, the advanced semiconductor privatization has made a new progress. After obtaining the approval of the State Market Supervision, today, the temporary shareholders' meeting and the H-share independent shareholders Class General will be adopted.
Privately approved, combined agreement
On October 30, 2018, the Tower Semiconductor and Advanced Semiconductor announced the formulation of the merger agreement, and the advanced semiconductor directors agreed to recommend advice from the advanced semiconductor shareholders. The Tower Semiconductor according to the China Company Law No. 17, according to the advanced H shares per share and each Non-listed foreign stocks 1.50 HK $ 1.33 in advanced in advance in the advancement of RMB 1.33 per share, to absorb advanced privatization.
According to the results of the incoming effectiveness of the merger agreement, including the advanced semiconductor single shareholder, the temporary shareholders, the H shareholder Class Conference, as well as the relevant government agencies or regulatory agencies, all the necessary batch of services and other parts. On January 2, 2019, the tower semiconductor has obtained the approval of the State Market Supervision, the conditions (4) in the condition that the merged protocols take effect (4) have been reached.
The latest announcement shows that January 11, 2019, the joint announcement of the Tower Semiconductor and Advanced Semiconductor announced that advanced semiconductor held a temporary shareholder meeting and advanced semiconductor H shares independent shareholder Class in Shanghai on January 11, two conferences The voting voting method officially organizes advanced semiconductor privatization by approved the tower semiconductor to absorb the combined manner.
At this point, the previous announcement is detailed in that all conditions that make the merged protocols have been achieved, so the merge protocol has taken effect.
According to the announcement, advanced semiconductors have approved the listing status of advanced semiconductors in the Stock Exchange in accordance with the listing rules, and the current semiconductor H is expected to be the final trading day of the Stock Exchange on January 17, 2019. The voluntarily withdrawal of the advanced semiconductor H shares will return to the UNITA on January 25, 2019.
According to previous announcements, advanced semiconductors will be revoked by the retreated date; after logging out registration, advanced semiconductors will incorporate tower semiconductors and will no longer be used as an independent legal entity. After the combination is successful, the assets and liabilities of advanced semiconductor (along with the rights and obligations included with the assets), the business and employees will be subjected to the induction enterprises.
And enter the tower semiconductor to win the winner
In the industry, the tower semiconductor will be a win-win ranking for both advanced semiconductor privatization.
Advanced semiconductor was established in 1988 to be established as Shanghai Philips Semiconductor Company. In 1995, I was freely named Shanghai Advanced Semiconductor Manufacturing Co., Ltd. in 2004, which is the Shanghai Advanced Semiconductor Manufacturing Co., Ltd., and successs in 2006. Hong Kong Stock Exchange Listed.
The company is a large-scale integrated circuit chip manufacturing company, there are currently 5 inches, 6 inches, 8-inch wafer production lines, focusing on the analog circuit, the manufacturing of power devices, 8 inches and 40,000 calendar production capacity 628 thousand pieces, It is the earliest car electronic chip, IGBT chip manufacturing enterprise.
For advanced semiconductors, just as it is, the semiconductor industry is a capital intensive and technical-intensive industry. Capital investment is the main driving force of market expansion. Despite the advanced has a solid simulation and power semiconductor technology, it still faces capacity supply Insufficient and technology need to upgrade problems.
The tower semiconductor is a wholly-owned subsidiary of Huada Semiconductor. After the China-China Electronic Information Industry Group wholly-owned subsidiary, the advanced semiconductor will rely on China Semiconductor and China Electronic Information Industry Group. Incarounding central enterprises, at the same time, capital, market, etc. will have achieved greater support, which is expected to solve the above problems and rejuvenate their vitality;
For China's large semiconductor and tower semiconductors, the overall loading of advanced semiconductors has also positive significance. The tower semiconductor is established for one year, and assumes a total investment of 35.9 billion yuan of special technology production line construction projects, and advanced semiconductor has many years of specialty technology production and manufacturing experience and customer accumulation, which passes the "Borrow" privatization advanced semiconductor can be quickly Get relevant technologies and resources.
A unnamed industry insiders said to the author, if the advanced semiconductor successfully privatizes and is included in the China Electronic Information Industry Group, with the integration of resources such as China Semiconductor, Tong Titan Semiconductor, the future will be expected to add a special process manufacturing. " Giant. Read more
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