Business Context and Reporting Period
This Form 6-K filing by Advanced Semiconductor Engineering, Inc. (ASE) was submitted on February 13, 2012. The report discloses a material corporate event regarding the Initial Public Offering (IPO) of a subsidiary, Universal Scientific Industrial (Shanghai) Co., Ltd. ("Universal Scientific Shanghai"), on the Shanghai Stock Exchange.
Key Financial Metrics
The filing does not provide consolidated revenue, profit, cash flow, or margin data for ASE. Financial details are limited to the specific transaction regarding the subsidiary's IPO:
- IPO Price: RMB 7.6 per share.
- Shares Issued: No more than 106.8 million shares.
- Total Proceeds: Approximately RMB 811.68 million (prior to underwriting discounts and commissions).
- Ownership Structure: ASE indirectly owned 99.19% of Universal Scientific Shanghai prior to the IPO. Post-IPO, ASE will hold no less than 88.72% of total outstanding shares.
Material Changes
The primary material change is the partial divestiture of Universal Scientific Shanghai through its public listing. This transaction reduces ASE's direct ownership stake in the subsidiary from 99.19% to a minimum of 88.72%, while generating capital for the subsidiary.
Guidance, Outlook, and Risks
The filing contains no specific financial guidance or management commentary regarding future operating results. It includes a standard Safe Harbor Notice identifying forward-looking statements subject to various risks, including:
- Cyclicality and market conditions in the semiconductor industry.
- Competitive pressures and the ability to introduce new technologies.
- Integration risks from mergers and acquisitions.
- Geopolitical tensions between the Republic of China and the People's Republic of China.
- Foreign currency exchange rate fluctuations.
Investor Verification Checklist
- Verify the final ownership percentage of Universal Scientific Shanghai held by ASE post-IPO.
- Confirm the net proceeds to Universal Scientific Shanghai after deducting underwriting discounts and commissions.
- Review the 2010 Annual Report on Form 20-F for detailed historical financial performance and risk factors.
- Monitor the impact of the IPO on ASE's consolidated financial statements in subsequent reporting periods.