Pixelworks jumps after fresh funding in Chinese subsidiary

Pixelworks

18/08/2022 14:33

** Shares of Pixelworks Inc  PXLW.O  up 22% to $2.50 
    ** Co enters a $12.9 mln deal with a group of private equity
investors for a part of its equity interest in its Shanghai
subsidiary - Pixelworks Semiconductor Technology (Shanghai) Co
    ** The purchase price values the unit at 3.2 bln yuan 
($471.71 mln)
    ** The investors will have 2.73% stake in the company after
the deal closes, which is expected in September
    **  PXLW will continue to hold an 80.87% stake in the unit

($1 = 6.7838 Chinese yuan renminbi)

 (Reporting by Eva Mathews in Bengaluru)
 ((Eva.mathews@thomsonreuters.com))