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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Mephisto who wrote (35061)	5/4/2000 7:12:00 PM
From: Proud_Infidel	Read Replies (1) \| Respond to of 70976

Chartered's $507 million stock offering will help equip Fab 7 Semiconductor Business News (05/04/00, 01:40:41 PM EDT) SINGAPORE--A couple weeks after Wall Street's stock market plunge, Chartered Semiconductor Manufacturing Ltd. here has reinitiated a global offering of ordinary shares to help it equip a new wafer fab, now under construction in Singapore. The silicon foundry supplier today said it is offering 78 million of ordinary shares, priced at a gross value of about $507 million, based on current exchange rates. Chartered said selling shareholders have decided to reduced their offering to 57.1 million shares, compared to 97 million shares announced earlier this week. Last month, Chartered said the follow-on global offering was set at 213 million ordinary shares (78 million by the company and 135 million by selling shareholders). However, the collapse of stock prices in mid-April cause the offering to be postponed (see April 17 story). In an announcement today, Chartered priced the shares at S$11.20 each (nearly $6.60). American Depositary Shares (ADSs) are priced at US$65 (each ADS represents 10 ordinary shares.) The proceeds of the offering will be used by Chartered to fund part of its capital spending plans for 2001. This will include the completion of Chartered's Fab 7 wafer-processing plant, which is currently slated to be which will be equipped for production of 0.15-micron ICs by the middle of 2001 (see Feb. 18 story). During an interview in Singapore five weeks ago, Chartered officials said the company was planning to set up the fab as a wholly owned factory, but joint venture partners were still possible for Fab 7. Currently, Chartered plans to equipment the facility as an 8-inch fab capable of processing 60,000 wafers a month when it is at full capacity. Chartered now operates two separate 8-inch wafer fabs under joint ventures with Lucent Technologies Inc. and Agilent Technologies Inc. at its main campus in Singapore. --J. Robert Lineback reporting in U.S.