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Hot stock: Asti up 5.3% on extension of exclusivity period to China Fortune-Tech Capital
SHARES in mainboard-listed manufacturer of semiconductor equipment Asti Holdings Limited rose in early-morning trade, after it extended the exclusivity period of a non-binding term sheet, signed on Aug 29, 2017 with China Fortune-Tech Capital Co Ltd (CFTC), to divest the STI Group.
The stock was up 5.3 per cent or S$0.004 at S$0.08 as at 10am on Monday.
In a filing with the Singapore Exchange late on Sunday, the company said that Asti and CFTC had mutually agreed to extend the exclusivity period from Oct 28 to Dec 15, 2017.
"The extension of the exclusivity period was made with a view to allow CFTC more time to carry out due diligence in connection with the proposed disposal as well as to facilitate the continued negotiations and finalisation of the definitive documents," it said.