Ingenic Semiconductor (SHE:300223) directors approved a proposal for the company to replenish 32.1 million yuan of working capital for its projects with funds raised from its initial public offering, according to a Wednesday filing with the Shenzhen bourse.
The funds helped pay for research and development and industrialization projects for its embedded MPU series and intelligent video series chips, as well as for network chips and 3D DRAM chips.
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