Integrated Micro-Electronics, Inc.’s Subsidiary, VIA optronics AG to Delist its ADSs from the New York Stock Exchange

On April 9, 2024, Integrated Micro-Electronics, Inc.'s subsidiary, VIA optronics AG (VIA), a leading supplier of interactive display solutions, announced its intention to voluntarily delist its American Depository Shares (ADSs) from the New York Stock Exchange (NYSE). Also to terminate its registration with the U.S. Securities and Exchange Commission (US SEC) and to cease its ADS program.

VIA notified the NYSE on April 9, 2024, that it intends to voluntarily delist its ADSs from the NYSE in accordance with a Supervisory Board resolution. VIA has also notified The Bank of New York Mellon (the ADS program's depositary) of the program's termination.

VIA believes that delisting and deregistering the ADSs from the US public markets will be more cost-effective for the company, given the low liquidity of its ADSs and the high yearly costs of maintaining the NYSE listing and US SEC registration. VIA also believes that delisting and deregistration, as well as the suspension of its US SEC reporting obligations, will allow the company to better allocate resources to execute its current business strategy by allowing management and employees to focus more on managing its businesses and strengthening relationships with customers and business partners.
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VIA anticipates filing a Form 25 with the US SEC regarding the delisting and deregistration of its ADSs on or around April 19, 2024. Unless VIA withdraws Form 25 earlier, the delisting of the ADSs will take effect 10 days after it is filed. As a result, VIA believes that the ADSs' last day of trade on the NYSE will be on or around April 29, 2024.

Following the delisting of its ADSs from the NYSE and once VIA has completed all applicable US SEC filings and is otherwise able to do so, VIA intends to submit a Form 15 with the US SEC to deregister its ADSs and cease its reporting obligations under the U.S. Securities Exchange Act of 1934, as amended. The process of delisting from the NYSE, suspending US SEC reporting responsibilities, and terminating the ADS program is expected to take time and will necessitate filings, notifications, and compliance with specific regulations. As a result, VIA cannot yet make promises about whether or not these steps will be completed.

VIA previously revealed that it had received notification from the NYSE that it was not currently in line with the NYSE's continuous listing standards.

VIA is a leading provider of interactive display solutions for multiple end markets in which superior functionality or durability is a critical differentiating factor. Its customizable technology is well-suited for high-end markets with unique specifications and demanding environments that pose technical and optical challenges for displays, such as bright ambient light, vibration and shock, extreme temperatures, and condensation. VIA’s interactive display systems combine system design, interactive displays, software functionality, cameras, and other hardware components. VIA’s intellectual property portfolio, process know-how, optical bonding, metal mesh touch sensor and camera module technologies provide enhanced display solutions built to meet the specific needs of its customers.

Integrated Micro-Electronics, Inc. (IMI), the manufacturing arm of AC Industrial Technology Holdings, Inc., a wholly-owned subsidiary of Ayala Corporation, is among the leading global technology and manufacturing solutions expert in the world. Based on 2022 revenues, IMI ranks among the top 25 EMS service providers in the world per Manufacturing Market Insider, and is among the top ten automotive EMS companies per New Venture Research.

IMI specializes in highly reliable and quality electronics for long product life cycle segments such as automotive, industrial electronics and more recently, the aerospace market.

​From its 21 manufacturing plants across nine countries, IMI provides engineering, manufacturing, and support and fulfillment capabilities to diverse industries globally.