Stats ChipPac "considering approach from third party", shares jump

SINGAPORE - Stats ChipPac said on Friday it has received a non-binding expression of interest from a third party to possibly acquire all the shares in the Singapore-listed company.

The company is considering the approach, but there is no assurance that it will result in any definitive agreement or transaction, it said in a statement in response to a query from the Singapore Exchange about unusual trading activity in its shares.

"The company regularly conducts strategic reviews of, and considers various proposals in relation to, its business and operations with a view to maximising shareholder value," Stats ChipPac said.

Shares of the semiconductor assembly and testing company jumped 6.5 cents, or 16.9 per cent, to 45 cents by 1pm on Friday.

The shares rose five cents, or 14.9 per cent, to 38.5 cents on Thursday. Almost 9 million shares changed hands, six times the average daily volume so far in May.