Ralec's bid for ASJ: acceptances rise to 74.32%

TAIWAN'S Ralec Electronic Corp, which is looking to take chip resistors maker ASJ Holdings private, has received valid acceptances representing 74.32 per cent of the total issued share capital of ASJ.

Ralec announced yesterday evening that it had garnered valid acceptances (which have not been withdrawn) for about 202.36 million shares. The stake of 74.32 per cent, which includes 52.68 per cent from undertaking shareholders, brought the aggregate shareholdings to 75.5 per cent.

ASJ has said that "the percentage of shares held by the public as at June 10, 2014, is approximately 9.98 per cent and is therefore less than the requisite 10 per cent public float requirement".