http://www.shareinvestor.com/news/news.html?source=sg_stbt&nid=144253
Ellipsiz sells probe card business for S$88.3m
23 Aug 2017 09:00 By Jacquelyn Cheok
IN A move that will significantly boost its cash reserves, mainboard-listed probe card company Ellipsiz announced on Monday the sale of its probe card business to a Japanese buyer for some S$88.3 million.
The proposed sale of of SV Probe will increase the company's cash hoard to over S$130 million - a figure that is larger than its current market cap of S$111.14 million, raising the possibility of acquisitions and special payouts to shareholders.
This comes as the company also announced a 6.5 Singapore cent dividend payout after reporting a net profit of S$8.5 million for its financial year ended June 30 (FY2017).
By way of the proposed disposal, Ellipsiz will sell 29.3 million shares, which represent 100 per cent of its probe card subsidiary, SV Probe, on a cash-free, debt-free basis.
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