TCL Zhonghuan's subsidiary to acquire Xinxin Semiconductor by absorbing new registration capital
2023-01-30 11:23:02 [Print]
On January 19, TCL Zhonghuan announced that its controlled subsidiary Zhonghuan Advanced planned to acquire shares of Xinxin Semiconductor Technology Co., Ltd. with its newly added registration capital with a view of quickly increasing its silicon wafer production capacity. Zhonghuan Advanced's newly added registration capital is RMB4,875 million (USD721 million), which will be paid by Xinxin Semiconductor shareholders with the 100% shares they have in Xinxin Semiconductor for a consideration of RMB7,757 million (USD1,148 million). When the transaction is completed, Xinxin Semiconductor shareholders will hold a total stake of 32.50% in Zhonghuan Advanced.
Silicon Metal 2-2-02 Delivered China
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