Chip foundry Hua Hong jumps as China's securities regulator approves IPO application

Hua Hong Grace Semiconductor

07/06/2023 03:55

** Shares of Chinese semiconductor wafers producer Hua Hong
Semiconductor Ltd  1347.HK  jump as much as 6.9% to HK$27.20
    ** Stock bound for biggest one-day pct rise since May 18, if
gains hold
    ** Stock is the fifth-biggest pct gainer in Hang Seng
Composite Index on information technology firms  .HSCIIT  
    ** Shanghai-based company says securities regulator China
Securities Regulatory Commission (CSRC) has approved the
company's A-Shares IPO application  urn:newsml:reuters.com:*:nP8N35S05N
    ** China's second-largest chip foundry plans a public share
sale worth $2.6 bln in Shanghai, which would be the year's
biggest mainland listing so far
    ** The Hang Seng Composite Index on information technology
firms  .HSCIIT  rises 1.4% and the Hang Seng Tech Index
 .HSTECH  adds 1.5%
    ** The Hang Seng Composite Index  .HSCI  and the Hang Seng
Index  .HSI  both climb 0.6%
    ** As of last close, the Hua Hong had fallen 6.6% this year

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))