BRIEF: ASMPT explores strategic options for SMT segment, including possible sale

Semiconductor equipment and software maker ASMPT Ltd. (0522.HK) said on Wednesday it is exploring options for its SMT segment, including a possible sale or spinoff for the unit, or a separate public listing. The company said it has hired Morgan Stanley to advise it on potential options, and is taking the step to focus on its growing semiconductor solutions segment.

SMT generated HK$2.53 billion ($324 million) in revenue in the first half of last year, down 26.6% year-on-year, accounting for nearly 40% of ASMPT’s HK$6.53 billion in revenue for the period, according to its latest financial report. Its semiconductor solutions accounted for the remaining HK$4 billion in revenue during the six-month period, up 31.7% year-on-year.

ASMPT’s stock rose in morning trading in Hong Kong on Wednesday, closing up 3.9% at the midday break. The stock is up 32% over the last 52 weeks.

By Doug Young

To subscribe to Bamboo Works weekly free newsletter, click here