SFA Semicon to be delisted after upcoming tender offer
SFA Semicon Philippines [SSP suspended] [link] was voluntarily suspended on Thursday ahead of news that its parent company, SFA Semicon Co. (“SFA Korea”), notified SSP of its intention to conduct a tender offer of SSP’s public float at P2.22/share and to delist the company from the PSE. The suspension will be lifted this morning (Tuesday). The tender offer price is 48% higher than its current market value, and is based on the PSE’s rules that require the tender offer price to be the highest of either the fairness opinion or the 1-year volume-weighted average price of the stock. SSP did not indicate SFA Korea’s proposed timeline for the tender offer or for the stock’s eventual delisting. SSP is one of the country’s largest semiconductor companies and exporters out of the Clark Freeport Zone. SSP makes memory components and SD flash cards.
