HK Stock Market Move | ASMPT (00522) dropped more than 6% at opening. The company has stopped discussions with the potential offeror regarding the possibility of privatization.

ASMPT (00522) opened more than 6% lower, as of the time of writing, it is down by 6.13%, trading at 75 Hong Kong dollars with a turnover of 8.9791 million Hong Kong dollars. In terms of news, ASMPT announced that the company hereby notifies its shareholders and potential investors that the company and potential offerors have ceased discussions regarding possible privatization. As for the takeover code, the offer period for potential privatization ends at the time of this announcement. Citigroup previously released a research report stating that ASMPT's revenue and gross profit margin in the third quarter exceeded expectations, but profits were lower than expected due to exchange rate losses. Advanced packaging continues to drive growth, although demand remains weak, management believes that mainstream semiconductor solutions (SEMI) are starting to recover, and surface mount technology (SMT) is beginning to rebound. Given normal seasonal factors, the fourth quarter guidance indicates a seasonal decline in revenue.