BUZZ-Semiconductor firm Amkor falls on Kim Family's $488 mln secondary offering

Reuters
Feb 13
BUZZ-Semiconductor firm Amkor falls on Kim Family's $488 mln secondary offering

** Semiconductor packaging and test services firm Amkor Technology's AMKR.O shares down 5% premarket to $49 after secondary offering priced

** Tempe, Arizona-based AMKR late Thurs announced investment vehicle for members of the Kim Family offloaded 10 mln shares at $48.75 for $487.5 mln gross proceeds

** Offering price represents 5.5% discount to stock's last close

** Post-offering, Kim Family to own >49% of AMKR's stock; selling stockholder entered into 180-day lockup agreement on its remaining holdings

** AMKR has ~247.3 mln shares outstanding as of Feb 10, per the offering prospectus

** Goldman Sachs sole bookrunner

** AMKR shares on Thurs fell 8%, reducing YTD gain to 31%. Stock closed at $22.19 a year ago

** Of 12 analysts, recommendation breakdown is 4 "buy", 7 "hold", 1 "sell"; median PT of $55 up from $35 a month ago, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10