-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueComing to Terms With AI
In this issue, we examine the profound effect artificial intelligence and machine learning are having on manufacturing and business processes. We follow technology, innovation, and money as automation becomes the new key indicator of growth in our industry.
Box Build
One trend is to add box build and final assembly to your product offering. In this issue, we explore the opportunities and risks of adding system assembly to your service portfolio.
IPC APEX EXPO 2024 Pre-show
This month’s issue devotes its pages to a comprehensive preview of the IPC APEX EXPO 2024 event. Whether your role is technical or business, if you're new-to-the-industry or seasoned veteran, you'll find value throughout this program.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - smt007 Magazine
IMI’s Subsidiary, VIA optronics AG, Announces Intention to Voluntarily Delist its ADSs from the New York Stock Exchange
April 11, 2024 | IMIEstimated reading time: 2 minutes
Integrated Micro-Electronics, Inc.’s subsidiary, VIA optronics AG (VIA), a leading supplier of interactive display solutions, announced on April 9, 2024 its intention to voluntarily delist its American Depository Shares (ADSs) from the New York Stock Exchange (NYSE), terminate its registration with the U.S. Securities and Exchange Commission (US SEC), and terminate its ADS program.
VIA notified the NYSE on April 9, 2024 of its intent to voluntarily delist its ADSs from the NYSE, pursuant to a resolution adopted by its Supervisory Board. VIA has also notified The Bank of New York Mellon (which acts as depositary under the ADS program) of the termination of the ADS program.
VIA believes that delisting and deregistration of the ADSs from the U.S. public markets will be more economical for the company, taking into account the low liquidity of its ADSs and the high costs of maintaining the NYSE listing and US SEC registration on an annual basis. VIA further believes that delisting and deregistration, and consequently the suspension of its US SEC reporting obligations, will allow the company to allocate resources more efficiently to execute its current business strategy by enabling its management and employees to focus more on managing its businesses and strengthening relationships with customers and business partners.
VIA currently anticipates that it will file with the US SEC a Form 25 relating to the delisting and deregistration of its ADSs on or around April 19, 2024. Unless the Form 25 is earlier withdrawn by VIA, the delisting of the ADSs will be effective 10 days after the filing of the Form 25. Accordingly, VIA anticipates that the last day of trading of the ADSs on the NYSE will be on or about April 29, 2024.
Following the delisting of its ADSs from NYSE and after VIAhas made all necessary US SEC filings and is otherwise able to do so, VIA plans to file with the US SEC a Form 15 to deregister its ADSs, and suspend its reporting obligations, under the U.S. Securities Exchange Act of 1934, as amended. The process for delisting from the NYSE, suspending US SEC reporting obligations and terminating the ADS program is expected to take time, require filings and notifications, and compliance with certain requirements. As such, VIA cannot provide assurances yet as to whether or when these actions will be consummated.
VIA had previously disclosed that it received notice from the NYSE that it is not currently in compliance with the continued listing standards of the NYSE.
Suggested Items
The ICAPE Group Reports Revenue for Q1 2024
05/16/2024 | ICAPE GroupThe ICAPE Group, a global technology distributor of printed circuit boards (PCB) and custom-made electromechanical parts, announced its revenue for the first quarter of 2024.
Siemens, Foxconn Team Up to Optimize Forward-thinking Manufacturing
05/16/2024 | FoxconnSiemens AG, a leading technology company, and Hon Hai Technology Group (Foxconn), the world’s largest electronics manufacturer, have signed a memorandum of understanding (MoU) to drive digital transformation and sustainability in smart manufacturing platforms.
Raytheon-Kongsberg System is Proving Itself – In Demos and In Combat
05/16/2024 | Raytheon TechnologiesOn a rocky island off the coast of Norway, Michael Sadlowski watched as a surface-to-air missile launcher pointed up into a dark nighttime sky.
Magnachip Celebrates the Grand Opening of Magnachip Technology Company in China
05/16/2024 | MagnachipMagnachip Semiconductor Corporation celebrated the opening ceremony of Magnachip Technology Company, Ltd. (MTC) yesterday at its headquarters located in Hefei, China. MTC is a subsidiary of Magnachip, established on December 20, 2023, to expand the Company’s display driver IC and power IC businesses in China.
Using AI to Redefine Productivity
05/15/2024 | Nolan Johnson, SMT007 MagazinePlato Systems, a machine perception company spun out of Stanford University, employs AI and video data to analyze and optimize the human component in manufacturing. Initially focused on semiconductors, Plato Systems has expanded into EMS manufacturing. Co-founder and CEO Amin Arbabian, along with product advisor Anders Holden and head of growth Luis Vidal, discuss their approach to changeover optimization and its impact on productivity in the industry. They’ve also included customer Raj Vora in the conversation.