STATS ChipPAC sets up new board as offer turns unconditional

Singapore

STATS ChipPAC on Thursday unveiled a new board of directors, a day after the offer for the Singapore-listed company was declared unconditional.

China's Jiangsu Changjiang Electronics Technology Co (JCET), the takeover offeror, has garnered 90.27 per cent of shares in the group from total valid acceptances and existing shares held. As the free float is now below 10 per cent, share trading will be suspended after the close of the offer on Aug 27.