Semiconductor firm Amkor falls on Kim Family's $488 mln secondary offering

Semiconductor packaging and test services firm Amkor Technology's AMKR.O shares down 5% premarket to $49 after secondary offering priced

Tempe, Arizona-based AMKR late Thurs announced investment vehicle for members of the Kim Family offloaded 10 mln shares at $48.75 for $487.5 mln gross proceeds

Offering price represents 5.5% discount to stock's last close

Post-offering, Kim Family to own >49% of AMKR's stock; selling stockholder entered into 180-day lockup agreement on its remaining holdings

AMKR has ~247.3 mln shares outstanding as of Feb 10, per the offering prospectus

Goldman Sachs sole bookrunner

AMKR shares on Thurs fell 8%, reducing YTD gain to 31%. Stock closed at $22.19 a year ago

Of 12 analysts, recommendation breakdown is 4 "buy", 7 "hold", 1 "sell"; median PT of $55 up from $35 a month ago, per LSEG data