Stats ChipPAC calls for trading halt

SINGAPORE - Chip testing and assembly player Stats ChipPAC requested for a trading halt on Monday (Sep 1), ahead of an update.

The company previously said it has been been approached by several firms interested in buying it, including China's Jiangsu Changjiang Electronics Technology and Tianshui Huatian Technology.

It announced on Monday that Huatian has decided to terminate its approach, news which Huatian released on the Shenzhen Stock Exchange, where it is listed.

Stats ChipPAC noted in a statement that discussions with Huatian to date have been preliminary.

The company said: "There is no assurance that any of these approaches received by the company will result in any definitive agreement or transaction. The company will make an appropriate announcement in the event that there are any material developments on this matter."