China moves in takeover of European wafer supplier

China moves in takeover of European wafer supplier

Business news |
By Peter Clarke

Okmetic stock is traded on the Helsinki stock exchange and other markets across Europe. NSIG was formed in 2015 and is one of several vehicles being used by the People’s Republic of China to buy a position in the global semiconductor industry. NSIG was intended to be a holding company focused on semiconductor materials and ecosystem.

NSIG first made its offer on April 1 offering €9.20 per share with a dividend of €0.65 per share valuing Okmetic at about €162 million (about $180 million). This represented a premium of about 30 percent above the €7.50 level the stock had been trading at prior to the offer and the board of directors of Okmetic unanimously recommended acceptance of the offer.

NSIG Finland SARL, a subsidiary of NSIG has declared its offer unconditional and extended the acceptance period until June 14, 2016.

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