Chinese buyout firm is said to consider sale of chip tester UTAC

[HONG KONG] Wise Road Capital is considering selling semiconductor assembly and testing company UTAC Holdings, according to sources familiar with the matter.

The Beijing-based private equity firm has engaged an adviser and could seek about US$3 billion in a potential sale, the sources said, asking not to be identified discussing private deliberations.

Considerations are at an early stage and Wise Road may decide not to proceed with a sale of the Singaporean company it acquired from a group of shareholders including Affinity Equity Partners and TPG in 2020.

Representatives for Wise Road and UTAC did not respond to requests seeking comment.

UTAC has production facilities in Singapore, where it is headquartered, as well as China, Indonesia and Thailand, with a sales network focused primarily on the US, Europe and Asia, the company’s website shows.

Wise Road focuses on investments in semiconductors and other high-tech industries such as automotive electronics, robotics, the Internet of Things and sustainability, according to its website. Its investors include tech firms, financial institutions and family offices. BLOOMBERG