HUA HONG SEMI: Plans to acquire Huali Microelectronics equity for RMB 8.27 billion

Hua Hong Semiconductor announced on the Hong Kong Stock Exchange that it plans to acquire approximately 97% of Shanghai Huali Microelectronics' equity through the issuance of shares, with a transaction price of RMB 8.27 billion. The sellers include Hua Hong Group and other parties.

According to the transaction arrangement, Hua Hong Semiconductor will issue 190.77 million consideration shares to the sellers.

These consideration shares account for approximately 10.98% of the total existing issued shares of Hua Hong Semiconductor.

At the same time, Hua Hong Semiconductor plans to raise supporting funds of RMB 7.56 billion through a non-public issuance of A shares.

The proposed A share issuance is subject to approval by the Shanghai Stock Exchange.

The proposed acquisition does not require the completion of the proposed non-public issuance of A shares as a condition