The stock price of semiconductor equipment manufacturer HPSP is rising more than 8%. This is influenced by the results of preliminary bidding amid the ongoing sale process.
At 9:25 a.m. on the 5th, HPSP is trading at 31,750 won, up 2,600 won (8.92%) from the previous day. The stock price even soared to 32,750 won during the session.
Crescendo Equity Partners (Crescendo) and the sale's lead manager, UBS, are said to have selected about five potential acquirers (shortlist), including MBK Partners. The sale target is Crescendo's 40.9% equity stake in HPSP. Crescendo plans to conduct the main bidding in April this year after about eight weeks of due diligence.
HPSP is a company that manufactures heat treatment equipment necessary for semiconductor processes. It supplies high-pressure hydrogen annealing (HPA) and high-pressure oxidation process (HPO) equipment to domestic and foreign foundry corporations, including Samsung Electronics, SK hynix, Intel, and TSMC.