JSE-listed Labat Africa's controlling shareholder is in talks to sell out its stake.
The company has reiterated it is trading under a cautionary, and says full details about the deal will be made available once a final agreement has been reached.
Labat's majority shareholder, Link Private Equity and Investments, aims to sell its 45.7% stake to an undisclosed third-party, at 5c a share.
Yesterday, the company's shares closed at 24c, jumping from Wednesday's close of 13c on the back of the news.
The deal is conditional on Link buying Labat's wholly-owned subsidiary South African Micro-Electronic Systems (Sames), at a price that has yet to be determined.
Sames is the only commercial semiconductor manufacturing facility in Africa. It is an integrated operation undertaking the design, manufacture and marketing of high-performance analogue and mixed signal integrated circuits.
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