EEMS Shares Climbs To Three-Month High After Sale of Singapore Chip Unit

EEMS Italia SpA, which assembles and tests memory chips, climbed in Milan to the highest in more than three months after the company sold its Singapore subsidiary for $68 million in cash.

EEMS will use the proceeds from the sale to reduce debt and finance its growth, it said in a statement distributed by the Italian exchange today.

EEMS rose as much as 12 percent to 1.662 euros in Milan and was trading at 1.643, up 11 percent, at 11:12 a.m.

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