English | 简体中文 | 繁體中文 | 한국어 | 日本語
Monday, 13 July 2020, 17:00 HKT/SGT
Share:
UNISOC Completes Equity Restructuring, Promotes IPO Process

SHANGHAI, July 13, 2020 - (ACN Newswire) - As announced on May 12, Chinese fabless semiconductor company UNISOC increased capital by CNY 5 billion (USD 715 million) to complete its equity restructuring. The IPO process is now on track for a 2021 listing on the SSE STAR Market, Shanghai's recent NASDAQ-style Science and Technology board, by the restructured company valued at CNY 55 billion (USD 7.86 billion).

Based on Shanghai Stock Exchange (SSE) announcements, UNISOC completed the relevant registration on June 8 including the formalities of a capital increase of CNY 4.2 billion (USD 600 million) to CNY 4.62 billion (USD 660 million) and the substantially altered equity structure. The listing entity will be UNISOC Communications (Shanghai) Technology Co., Ltd.

UNISOC shareholders have increased from 7 to 31, including 17 investment funds (limited partnerships) accounting for 70% of new shareholdings. Beijing Spreadtrum Investment remains the largest shareholder with 38.55% (57.14% pre-restructuring), followed by China National IC Industry Investment Fund (CICIIF or 'Big Fund') with 15.27%, and Intel (China) with 12.98%. Shanghai IC Industry Investment Fund and China National Fund II follow jointly in fourth, with each holding 4.09%.

"This equity reorganization is conducive to optimizing equity structure and enhancing financial strength," said UNISOC previously. "The capital increase will be used for R&D in advanced technologies for 5G, IoT, AI and other fields, which will further strengthen technological competitiveness, and promote UNISOC's stable long-term development."


Topic: IPO
Sectors: Electronics
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2020 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

 

Latest Press Releases
Trintech Enhances Its Enterprise System of Accounting Intelligence with Release of Cadency 9.0  
Aug 14, 2020 00:00 HKT/SGT
Hi Sun Tech Announces 2020 Interim Results: Continues to Advance "Digitalization" Strategy  
Aug 13, 2020 22:20 HKT/SGT
ConnecTechAsia Reveals Details of Event to Deliver Best-In-Class Virtual Experience  
Aug 13, 2020 17:48 HKT/SGT
QBiotics Announces Clinical Collaboration with MSD Targeting Unresectable Melanoma  
Aug 13, 2020 15:30 HKT/SGT
Mitsubishi Corporation Releases Financial Results for the Three Months Ended June 2020   
Aug 13, 2020 14:33 HKT/SGT
Huijing Holdings Limited Announces Positive Profit Alert for 2020 Interim  
Aug 13, 2020 14:00 HKT/SGT
PJSCB Orient Finans to start accepting JCB across the Republic of Uzbekistan  
Aug 13, 2020 11:00 HKT/SGT
NEC and PERSOL CAREER Start PoC of Recruitment Service for International IT Engineers using Blockchain Technology  
Aug 13, 2020 08:57 HKT/SGT
China Medical System Holdings Limited 2020 Interim Results Announcement  
Aug 13, 2020 08:55 HKT/SGT
HKTDC Summer Sourcing Weeks | Go ONLINE builds a business success  
Aug 12, 2020 23:00 HKT/SGT
More Press release >>
 Events:
More events >>
Copyright © 2020 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Cookies Policy | Privacy Policy | Disclaimer | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 400 879 3881 | Hong Kong: +852 8192 4922 | Singapore: +65 6653 1210 | Tokyo: +81 3 6859 8575