Business Context and Reporting Period
This Form 6-K, filed on June 2, 2008, by Advanced Semiconductor Engineering, Inc. (ASE Inc.), reports the effective completion of a "going private" acquisition of its majority-owned subsidiary, ASE Test Limited. The filing serves to announce that the Scheme of Arrangement under Singapore law became effective on May 30, 2008.
Key Financial Metrics and Transaction Details
The filing details the financial terms of the acquisition rather than standard operating metrics for a reporting period.
- Acquisition Price (NASDAQ): US$14.78 per ordinary share of ASE Test.
- Acquisition Price (Taiwan): NT$5.6314 per Taiwan depositary share (representing 0.0125 ordinary shares), equivalent to US$0.185 per share based on the May 29, 2008 exchange rate.
- Payment Terms: Cash payment to be made within 10 calendar days of the Effective Date (May 30, 2008).
- Revenue/Profit/Cash Flow: The filing text does not provide specific revenue, profit, cash flow, margin, debt, or liquidity figures for ASE Inc. or ASE Test for any period.
Material Changes
The primary material change is the delisting and privatization of ASE Test Limited.
- Delisting: ASE Test's ordinary shares and Taiwan depositary shares have ceased trading and will be delisted from the NASDAQ Global Market and the Taiwan Stock Exchange, respectively.
- Ownership Structure: ASE Inc. has acquired all outstanding ordinary shares of ASE Test that it did not previously own directly or indirectly.
Guidance, Outlook, and Risks
The filing contains no specific financial guidance, revenue outlook, or management commentary regarding future operational performance. It includes a standard disclaimer regarding forward-looking statements, noting that actual results may differ materially from expectations due to known and unknown risks and uncertainties. No specific contingencies or unusual items beyond the acquisition itself are detailed.
Investor Verification Checklist
- Verify the final cash payment date for ASE Test shareholders (within 10 days of May 30, 2008).
- Confirm the official delisting dates for ASE Test on NASDAQ (symbol ASTSF) and the Taiwan Stock Exchange (symbol 9101).
- Review subsequent filings for the consolidated financial impact of the full acquisition of ASE Test on ASE Inc.'s balance sheet.
- Check for any regulatory approvals or conditions related to the Scheme of Arrangement in Singapore that may affect the transaction's finality.