October 18, 2016 / 11:27 AM / 9 months ago

BRIEF-HC Semitek to issue new shares to acquire company and raise fund

1 Min Read

Oct 18 (Reuters) - HC Semitek :

* Says it will issue 237.4 million A shares at 6.95 yuan per share to a Yiwu-based investment company and New Sure Limited, in exchange for 100 pct stake in a Yiwu-based photoelectric material company

* Says total acquisition price is 1.65 billion yuan

* Says it will issue up to 28.8 million new shares at the price of 6.95 yuan per share, through private placement, to raise up to 200 million yuan

Source text in Chinese: goo.gl/FK7bpJ

Further company coverage: (Beijing Headline News)

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