HuaHong Semiconductor plans to issue RMB-denominated shares and list on the STAR Market.

On March 21, HuaHong Semiconductor issued an announcement at noon stating that its board of directors has approved a preliminary proposal to potentially issue RMB-denominated shares and list these RMB shares on the STAR Market. The proposed issuance size shall not exceed 25% of the company’s existing issued share capital, as enlarged by the RMB shares to be issued and allotted pursuant to the proposed issuance, and all such shares will be issued through the issuance of new shares. The proceeds from the offering are currently intended for business development in the company’s core operations as well as general working capital.

Link: www.huahonggrace.com/s/investor_ann.php

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