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Hot stock: STATS ChipPAC shares skid over 16%

Friday, November 7, 2014 - 10:11

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SHARES of STATS ChipPAC fell sharply by over 16 per cent or 9.5 Singapore cents to 48.5 Singapore cents after trading resumed on Friday following a trading halt since Monday pending an announcement.

SHARES of STATS ChipPAC fell sharply by over 16 per cent or 9.5 Singapore cents to 48.5 Singapore cents after trading resumed on Friday following a trading halt since Monday pending an announcement.

The counter was most actively traded in the market with some 37 million shares worth S$18 million done in the early session.

On Thursday, Jiangsu Changjiang Electronics Technology (JCET) proposed a US$780 million bid for the chipmaker. The offer price of 45.2 Singapore cents apiece for STATS ChipPAC shares represented a 20 per cent discount to its last traded price prior to the trading halt of 58 Singapore cents.

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