Amkor Technology, Inc. Raises $479 Million of Proceeds From Initial Public Offering.WEST CHESTER West Chester, borough (1990 pop. 18,041), seat of Chester co., SE Pa., W of Philadelphia; inc. 1799. Primarily residential, West Chester was long the trade and processing center for an agricultural region that is now mainly suburbs. , Pa.--(BUSINESS WIRE)--May 1, 1998--Amkor Technology, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AMKR AMKR Amkor Technology ), announced today that it has made an initial public offering of 35 million shares of Common Stock, 30 million of which were sold by the company and 5 million of which were sold by a selling stockholder, and $180 million aggregate principal amount of 5.75 percent Convertible Subordinated Notes due 2003. The initial public offering will provide the company with an estimated $479 million of proceeds. The company's Common Stock will begin trading on the Nasdaq National Market May 1, 1998 under the symbol "AMKR" at an initial public offering price of $11.00 per share. The company's Convertible Subordinated Notes will begin trading on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol "AMKRG." The proceeds from the offering will be used primarily to repay $313 million of short-term and long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. and other obligations, to fund capital expenditures and to provide working capital. Salomon Smith Barney is acting as lead manager for the offering and BancAmerica Robertson Stephens and Cowen & Company are acting as co-managers for the underwriters group. Established in 1968, Amkor Technology, Inc. is the world's largest provider of semiconductor packaging and test services. The company offers a complete and integrated set of packaging and test services including integrated circuit package design, leadframe and substrate design, IC package assembly, final testing, burn-in, reliability testing, and thermal and electrical characterization. The company was formed as a result of a reorganization, prior to the initial public offering, of Amkor Electronics, Inc. and several affiliated entities. A registration statement relating to these securities was filed and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation or an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. A copy of the final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. related to the offering can be obtained from Salomon Smith Barney at Seven World Trade Center, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , N.Y. 10048, 212.783.7000; Robertson, Stephens & Company at 555 California Street, San Francisco, CA 94104, 415.781.9700; or Cowen & Company at Four Embarcadero Center For the Embarcadero Center complex, see Embarcadero Center Four Embarcadero Center is an office skyscraper located in San Francisco's Financial District. The building is part of the Embarcadero Center, which is a complex of six interconnected buildings and one , Suite 1200, San Francisco, CA 94111, 415.646.7200. CONTACT: Amkor Technology, Inc. Steve Anderson, 602/821-5000 ext. 7701 or Stapleton Communications Inc. Deborah Stapleton, 650/470-0200 |
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