STATS ChipPAC shares up 19.5% on news of possible buyout

Singapore

SHARES of STATS ChipPAC shot up further yesterday in heavy volume on news that a third party has expressed interest to acquire the Temasek-linked semiconductor packaging and testing services company.

In a pre-market announcement yesterday - in response to a query by Singapore Exchange on the unusual price and volume movements in the shares on Thursday - STATS ChipPAC said: "The company has received a non-binding expression of interest from a third party, with a view to a possible acquisition of all the shares in the company subject to a number of conditions."