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Hong Kong – Herbert Smith Freehills Advises ASM International On €422m Share Placement.

22 March, 2013

 

Herbert Smith Freehills has advised ASM International N.V. ("ASM International"), a leading global supplier of semiconductor equipment and ranked among the top 10 semiconductor equipment manufacturers globally, as its Hong Kong and US counsel on its €422 million (HK$4.3 billion) partial secondary placement of shares of its subsidiary, ASM Pacific Technology Ltd. ("ASM PT"). 
 
ASM International placed a total of 47,424,500 ordinary shares, representing a 12% stake of ASM PT. The transaction was closed on 15 March 2013. Following the partial placement, ASM International will own a 40.08% stake of ASM PT and will continue to be the largest shareholder of ASM PT.  
 
ASM International and its subsidiaries design and manufacture equipment and materials used to produce semiconductor devices. Listed on the Hong Kong Stock Exchange, ASM PT is engaged in the design, manufacture and marketing of machines, tools and materials used in the assembly and packaging of semiconductors and surface mount technology. 
 
The Herbert Smith Freehills team was led by corporate partner Andrew Tortoishell who was supported by senior associate Victor Ding. The US securities team was led by partner Kevin Roy, who was assisted by associate Jackie Chen.
 
Morgan Stanley and HSBC acted as joint bookrunners on the placement. 
 
Stibbe acted as the lead and Dutch counsel to ASM International. Quarles & Brady LLP advised ASM International on the local US laws. Freshfields acted as the Hong Kong and US counsel to Morgan Stanley and HSBC.

 

 

For further information, please contact:

 

Wendy Kam, Herbert Smith Freehills
wendy.kam@hsf.com

 

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