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September 24, 2017

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ASML shares get a leg up on back of Intel plan to buy 15-percent stake

AMSTERDAM -- Shares in ASML Holding NV surged Tuesday on news that Intel Corp. intends to take a 15-percent stake in the company for around US$3.07 billion, and will also help fund its research into new technologies. ASML said other large customers may also take equity stakes. In early morning trading, shares were 9.4 percent higher at 43.475 euros (US$53.44).

ASML, the world's largest supplier of equipment to computer chip makers, said after the close of trading in New York Monday that it may issue up to 4.19 billion euros (US$5.15 billion) worth of shares, or a 25-percent stake, to Intel and others. However, under the deal's complicated structure, current shareholders would not be diluted, as ASML would distribute the proceeds to existing shareholders, and then carry out a reverse share split.

ASML said other major customers — which include South Korea's Samsung and Taiwan Semiconductor Manufacturing Company Ltd. — were also considering equity investments.

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