The number of shares to be issued represents around 9.5% of the company’s share base now.
Russell Tham (picture), joint head, enterprise development group and joint head, strategic development at Temasek, has been nominated to AEM’s board.
See also: AEM gets CIMB coverage on restructuring and cutting-edge product
For more than 24 years, Tham was at Applied Materials, a leading provider of capital equipment to the semiconductor industry.
See also: Salt Investments looking for alternative funding after two investors missed placement deadline
"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,” says AEM’s chairman Loke Wai San.
“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,” he says.
“The Board of Directors at AEM looks forward to working with Russell and tapping on his vast industry experience,” adds Loke.
