Amkor Shares Slide as Kim Family Prices 10 Million Share Offering

Shares of the semiconductor packaging provider dropped to $48.44 in early trading, slipping just below the offering price set by 915 Investments. The selling entity, which represents board chairman Susan Y. Kim and her family, also granted underwriters a 30-day option to purchase up to 1.5 million additional shares to cover potential over-allotments.

Ownership and Proceeds

Amkor confirmed it is not offering any new shares in this transaction and will receive no proceeds from the sale. Despite the divestment, the Kim family remains the firm's most influential shareholder group. Upon completion of the offering, the family will continue to own more than 49% of Amkor’s common stock, according to the company's official statement.

To ensure market stability, the selling stockholder has committed to a 180-day lock-up agreement. Under these terms, the Kim family and their direct affiliates are prohibited from selling or transferring any remaining shares for a six-month period following the date of the final prospectus.