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Technology Stocks : Alliance Semiconductor
ALSC 0.8100.0%Jul 10 5:00 PM EST
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To: Ram Seetharaman who wrote (5991)9/17/1999 4:12:00 PM
From: DJBEINO  Read Replies (2) of 9582
 
S'pore Chartered Semicon to go public soon-sources
By Mantik Kusjanto

SINGAPORE, Sept 17 (Reuters) - Chartered Semiconductor Manufacturing (CSM), the world's third largest semiconductor foundry, will likely announce the flotation of its shares before the end of the month, industry sources said on Friday.

The Singapore company, a unit of government-owned Singapore Technologies Pte Ltd (ST), would be filing for dual listings on the technology-laden Nasdaq in the United States and also the Stock Exchange of Singapore, an industry source told Reuters.

ST and CSM officials were not immediately available for comment.

Sources said CSM would be issuing new shares for the listing amounting to about 20 percent of the group's enlarged share capital.

The issue was said to be lead-managed by Salomon Smith Barney with Credit Suisse First Boston as a joint lead manager.

CSM was expected to go on a road show by September 27.

CSM announced a change to its logo last week and said the new logo ''comes at a significant turning point within the semiconductor industry and its own future.''

CSM aborted a listing plan on Nasdaq three years ago when the semiconductor market took a sharp downturn.

But the outlook for the semiconductor industry has been buoyant recently after two years of gloom and CSM said in May that it expected sales to rise by more than 40 percent this year.

ST president Ho Ching said recently that CSM could be going for a listing on Nasdaq between November and March.

biz.yahoo.com
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