ASMPT (HKG:0522) allotted and issued 1.6 million new shares under its employee share incentive scheme, according to a Monday Hong Kong bourse filing.

Shares of the chip gear maker were down nearly 2% in Tuesday morning trade.

The awarded shares were subscribed for in cash by the scheme trustee and will be transferred to selected employees subject to vesting conditions.

The new shares represent about 0.4% of ASMPT's existing issued share capital and were issued at a par value of HK$0.10 each.

ASMPT expects to raise HK$157,125 from the share issue for general working capital purposes.