Asti shareholder could make exit offer as the company heads for delisting

WATCH-LISTED chip manufacturing services company Asti Holdings announced that a substantial shareholder has indicated his intention to explore a possible exit offer to other shareholders for their shares.

The company said in a statement filed to the Singapore Exchange on Wednesday (Oct 5) that the potential offeror has not yet appointed his own advisers and that he is still in the midst of finalising the details of the exit offer. 

Therefore, Asti noted there is no certainty or assurance that an exit offer will be made by the potential offeror, who was not named in the filing.

Previously, the company said it would be delisted from the Catalist board for failing to meet the requirements to exit the watch list. Trading of Asti shares has been suspended since July.