Business Context and Reporting Period
Company: Advanced Semiconductor Engineering, Inc. (ASE Technology Holding Co., Ltd.)
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Date: August 29, 2013
Business Overview: The ASE Group is the world's largest provider of independent semiconductor manufacturing services in assembly and test. Services include IC test program design, wafer probe, flip chip, system-in-package, and electronic manufacturing services.
Key Financial Metrics
This filing is a press release regarding a capital raising event and does not contain operational financial results (revenue, profit, cash flow, or margins) for a specific reporting period.
- Debt Issuance: Priced an offering of US$400 million aggregate principal amount of Zero Coupon Convertible Bonds due 2018.
- Use of Proceeds: Expected to be used toward the procurement of raw materials from overseas.
- Offering Structure: Offered outside the United States pursuant to Regulation S under the Securities Act of 1933.
Material Changes
The filing does not provide comparative financial data or operational changes versus prior periods. The primary material event is the execution of the US$400 million convertible bond offering.
Guidance, Outlook, and Risks
Management Commentary: The company intends to utilize the bond proceeds for overseas raw material procurement.
Risks and Contingencies: The filing includes a Safe Harbor Notice identifying risks that could cause actual results to differ from forward-looking statements, including:
- Cyclicality and market conditions in the semiconductor industry.
- Highly competitive industry environment.
- Ability to introduce new packaging and testing technologies.
- Integration of pending and future mergers and acquisitions.
- International business activities and general economic/political conditions.
- Strained relationship between the Republic of China and the People's Republic of China.
- Fluctuations in foreign currency exchange rates.
Investor Verification Checklist
- Verify the specific terms and conversion price of the US$400 million Zero Coupon Convertible Bonds due 2018.
- Confirm the impact of the new debt on the company's leverage ratios and liquidity position.
- Review the 2012 Annual Report on Form 20-F (filed April 24, 2013) for detailed historical financial performance and risk factors.
- Monitor the execution of raw material procurement plans funded by the bond proceeds.