China semiconductor fund agrees to invest $400m in local chip maker
State-backed private equity investor China Integrated Circuit Industry Investment Fund (IC Fund) has agreed to buy an approximately 19% stake in domestic computer chip maker Hua Hong Semiconductor for $400 million.
According to a filing, IC Fund will acquire about 242.4 million shares in the Hong Kong-listed company for HK$12.90 apiece. Hua Hong’s stock spiked as much as 19% in the session following the announcement,...
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