QPL International Holdings plans to list its integrated-circuit assembly unit, Asat Group, in the Nasdaq market in the United States within two years.
Chairman Li Tung-lok said the listing plan was being formulated with Asat's new investors, but there was no time-table.
Asat, a main unit of Asat Group, had an audited net asset value of HK$684 million as of April 30 last year, and recorded an audited turnover of HK$1.72 billion for the year to April 30, 1998 and a net profit of HK$239 million.
A consortium led by Chase Asia Equity Partners is to pay QPL HK$1.52 billion in exchange for a 50 per cent stake in the enlarged share capital of QPL's British wafer fabrication arm, Asat.
Asat will cease to be QPL's subsidiary upon completion of the deal.
Proceeds from the deal will be used to repay in full its SAR bank creditors and part of its debt owed to British creditors.
