AEM To Raise S$103.1 Million In Private Placement To Temasek

The move continues AEM’s efforts in raising Singapore’s manufacturing and innovation capabilities in the semiconductor industry.

Singapore, 6 August 2021 – AEM Holdings Ltd. (“AEM”), a global leader in test and handling solutions, today announced that it has entered into a subscription agreement with Temasek, a global investment company headquartered in Singapore, to raise S$103.1 million in aggregate gross proceeds through a private placement to Temasek. AEM will issue 26.8 million new ordinary shares at an issue price of S$3.8477 per share to Temasek, which represents 9.5% of the total number of issued shares in the Company as at today. The transaction is subject to certain conditions, including the approval of the Singapore Exchange to list the new shares.

AEM intends to use the net proceeds from the private placement to bolster its growth opportunities by investing in next generation testing capabilities, deepening research & development to accelerate product portfolio expansion, and funding its mergers and acquisitions plan.

Additionally, Russell Tham, Joint Head, Enterprise Development Group and Joint Head, Strategic Development at Temasek, has been nominated to AEM’s Board of Directors. His appointment is subject to the relevant requirements, and is expected to take effect on completion of the placement. Prior to joining Temasek in May 2020, Russell spent two years at ST Engineering and 24 years at Applied Materials where he held various regional and global leadership positions across numerous core business functions.

Loke Wai San, Non-Executive Chairman of AEM, said: “As a global technology company based in Singapore, it is extremely meaningful to have Temasek come on board as a new investor at this juncture in our journey. At a time of significant change and opportunity in the semiconductor industry, the backing by a globally connected investor such as Temasek allows AEM to lean more purposefully into our growth plans. The Board of Directors at AEM looks forward to working with Russell and tapping on his vast industry experience.”

Established in 1990, AEM is a Singapore-based multinational corporation that delivers customized, application-specific semiconductor and electronics test and handling solutions for companies serving the advanced computing, 5G, and AI markets. The company achieved its highest revenue year on record in 2020 with S$519.0 million in revenue and crossed the S$1 billion mark in market capitalization. AEM Holdings Ltd is listed on the main board of the Singapore Exchange (Reuters: AEM. SI; Bloomberg: AEM SP).


Share This Announcement


Test at any scale, at any stage of the innovation process. Explore our portfolio of application-specific solutions

Offers a full test solution with Test Systems hardware, software & support.

Offers innovative cabling and component test solutions designed for Laboratory, Manufacturing, and Field Use applications.

 Our website will undergo scheduled maintenance on 27 July 2024. During the maintenance, some features may be temporarily unavailable. We appreciate your understanding.