Movement Alert|Hua Hong Grace Semiconductor Rises 4.03% in Regular Trading, Market Continues to Digest M&A Approval for Huali Micro Acquisition

Market Focus06-24

On June 24, Hua Hong Grace Semiconductor rose 4.03% in regular trading, trading at HKD 174.0/share, with turnover of HKD 865 million. The stock has risen for consecutive sessions following the approval of its major restructuring plan.

On the news front, the Shanghai Stock Exchange M&A Review Committee approved on June 18 the company's application to acquire 97.4988% equity of Shanghai Huali Microelectronics via share issuance, with a total transaction value of RMB 8.268 billion. The company will also raise up to RMB 7.556 billion in supplementary funds from no more than 35 qualified investors. Upon completion, Huali Micro's 65/55nm and 40nm logic process capabilities will be injected into the listed entity, adding 38,000 wafers/month of 12-inch production capacity, significantly strengthening the company's market position in specialty process wafer foundry services.

Additionally, the company's 40nm ultra-low-power specialty process has entered stable mass production, catering to low-power chip demand for IoT and wearable devices. The transaction still requires CSRC registration approval before implementation.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment