Asti Holdings receives unsolicited offer for shares

WATCH-LISTED semiconductor company Asti has received an unsolicited, non-binding letter of intent (LOI) for the acquisition of all the company’s shares. 

In a bourse filing on Sunday (May 14) evening, the group said a consortium of two unnamed parties has “genuine interest” in making a potential pre-conditional voluntary general cash offer for all the ordinary shares in Asti’s capital. Discussions are currently underway. 

Still, Asti highlighted that “no definitive agreements” have been made and there is “no certainty” that the LOI will be executed.

“In the meantime, shareholders are advised to exercise caution when dealing in their shares,” it said.