HK Stock Market Move | ASMPT (00522) rose more than 5% in early trading, the divestment of SMT business will help the company focus on its semiconductor business.
ASMPT (00522) rose over 5% in early trading, as of the time of publication, it is up 4.46% to HKD 104.3 with a trading volume of HKD 751.58 million.
ASMPT (00522) rose more than 5% in early trading, up 4.46% as of the time of writing, at HK$104.3, with a trading volume of HK$75.1585 million.
On the news front, ASMPT recently announced that the company is evaluating options for its Surface Mount Technology (SMT) business, which may involve selling, partnering, splitting, or going public. ASMPT's leader stated that the cash flow and management energy released from divesting SMT will be used to invest in the research and development competition of the semiconductor packaging core business. Citigroup stated that the potential divestment of the SMT business will allow the company to focus on the semiconductor equipment and advanced packaging business, potentially unlocking shareholder value.
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