Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Alliance Semiconductor -- Ignore unavailable to you. Want to Upgrade?

To: DJBEINO who wrote (7230)	4/6/2000 7:47:00 PM
From: Doug Simpson	Read Replies (5) \| Respond to of 9582

ALSC to sell some CHRT shares Thursday April 6, 7:15 pm Eastern Time Chartered Semiconductor, holders to sell 213 mln shrs WASHINGTON, April 6 (Reuters) - Chartered Semiconductor Manufacturing Ltd., (NasdaqNM:CHRT - news), the world's third-largest producer of microchips, filed on Thursday to sell 78 million ordinary shares, while some of its shareholders plan to sell 135 million shares. The company said it expects to net about $604.9 million from the sale of its shares assuming a $79.75 price for each American Depositary Share, which represents 10 ordinary shares, according to a prospectus filed with the U.S. Securities and Exchange Commission. The funds will be used for part of its 2001 capital spending requirements and general corporate purposes including possible acquisitions and strategic investments. The Singapore-based company said it would not receive any of the proceeds from the selling stockholders who include Singapore Technologies Semiconductors Pte. Ltd., Alliance Semiconductor Corp. (NasdaqNM:ALSC - news), Analog Devices Inc. (NYSE:ADI - news) and Actel Corp. (NasdaqNM:ACTL - news). About 1.36 billion ordinary shares will be outstanding after the global offering, according to the prospectus. The underwriters, Salmon Smith Barney, Credit Suisse First Boston, Chase H&Q, SG Cowen and Wit SoundView, have been granted the option to purchase an extra 31.95 million ordinary shares in the event of heavy demand to cover over-allotments. Shares Chartered Semiconductor closed up 9-3/16 to 88-15/16 on Nasdaq.