Hangzhou Greenda Electronic Materials (SHA:603931) plans to participate as a strategic investor for MetaX Integrated Circuits' (Shanghai) (SHA:688802) initial public offering, subscribing up to almost 80 million yuan worth of its shares, according to a Shanghai bourse filing on Thursday.
The company will subscribe for 764,379 shares at 104.66 yuan apiece. The subscription represents 1.91% of MetaX's IPO shares and 0.19% of post-IPO shares.
The Chinese high-purity electronic chemicals manufacturer's shares jumped 5% at the close.
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