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

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Aug. 2 (Bloomberg) -- 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.

Link to Company News:{EEMS IM <Equity> CN <GO>}

To contact the editor responsible for this story: Tommaso Ebhardt at tebhardt@bloomberg.net

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