Brief: Hua Hong Semiconductor Announces Major Transactions In Relation To JV Agreement

Hua Hong Grace Semiconductor

18/01/2023 10:34

Jan 18 (Reuters) - Hua Hong Semiconductor Ltd  1347.HK :
    * MAJOR TRANSACTIONS IN RELATION TO JV AGREEMENT
    * COMPANY, HHGRACE, CHINA IC FUND II AND THE WUXI MUNICIPAL
ENTITY
ENTERED INTO THE JV AGREEMENT
    * JV CO TO ENGAGE IN MANUFACTURING & SALE OF INTEGRATED
CIRCUITS &
12-INCH (300MM) WAFERS ADOPTING 65/55 NM TO 40 NM PROCESSES
    * SHANGHAI HUAHONG GRACE SEMICONDUCTOR MANUFACTURING TO
INVEST
US$1,169.82 MILLION IN JV CO
    * CO TO INVEST US$880.38 MILLION IN JV CO
    * CO, HHGRACE, CHINA IC FUND II, THE WUXI MUNICIPAL ENTITY
AND THE
JV CO ENTERED INTO JV INVESTMENT AGREEMENT
    * CHINA IC FUND II TO INVEST US$1,165.8 MILLION IN JV CO
    * WUXI XI HONG GUO XIN INVESTMENT TO INVEST US$804 MILLION
IN CASH
IN JV CO
    * JV INVESTMENT AGREEMENT TO CONVERT JV CO INTO A JV,
INCREASE
REGISTERED CAPITAL OF JV CO TO US$4.02 BILLION FROM RMB6.68
MILLION
    * HUA HONG WUXI TO TRANSFER & JV CO TO PURCHASE SEVERAL
PLOTS OF
LAND IN WUXI CITY FOR RMB170.1 MILLION

Further company coverage:  1347.HK 
 ((Reuters.Briefs@thomsonreuters.com;))