IC packaging and testing service providers Advanced Semiconductor Engineering (ASE) and Siliconware Precision Industries (SPIL) have decided to defer the long stop date for share exchange from December 31, 2017 to October 31, 2018 beause their plan to set up a joint holding company in May 2018 had just been approved by Anti-monopoly Bureau under China's the Ministry of Commerce November 24.

For the deferment, ASE and SPIL have attached a supplemental agreement to the share exchange pact signed on June 30, 2016.

According to the agreement, ASE will establish ASE Industrial Holding, which will acquire all ASE shares by exchanging one ASE unit for 0.5 unit of the holding company, and all SPIL shares at an equivalent price of NT$51.2 (US$1.71) per share.

Upon completion of the exchange, both ASE and SPIL will become wholly-owned subsidiaries of the holding company and the two companies will be delisted from the Taiwan Stock Exchange.

The plan to set up the holding company is under way, with ASE and SPIL to hold respective extraordinary shareholder meetings for this matter in February 2018. The holding company is expected to be established in April 2018.

By: DocMemory
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