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Press release
Jul 13, 2020 18:00 JST
Source:
UNISOC Technologies Co., Ltd.
UNISOC Completes Equity Restructuring, Promotes IPO Process
SHANGHAI, Jul 13, 2020 - (ACN Newswire) - As announced on May 12, Chinese fabless semiconductor company UNISOC increased capital by CNY 5 billion (USD 715 million) to complete its equity restructuring. The IPO process is now on track for a 2021 listing on the SSE STAR Market, Shanghai's recent NASDAQ-style Science and Technology board, by the restructured company valued at CNY 55 billion (USD 7.86 billion).
Based on Shanghai Stock Exchange (SSE) announcements, UNISOC completed the relevant registration on June 8 including the formalities of a capital increase of CNY 4.2 billion (USD 600 million) to CNY 4.62 billion (USD 660 million) and the substantially altered equity structure. The listing entity will be UNISOC Communications (Shanghai) Technology Co., Ltd.
UNISOC shareholders have increased from 7 to 31, including 17 investment funds (limited partnerships) accounting for 70% of new shareholdings. Beijing Spreadtrum Investment remains the largest shareholder with 38.55% (57.14% pre-restructuring), followed by China National IC Industry Investment Fund (CICIIF or 'Big Fund') with 15.27%, and Intel (China) with 12.98%. Shanghai IC Industry Investment Fund and China National Fund II follow jointly in fourth, with each holding 4.09%.
"This equity reorganization is conducive to optimizing equity structure and enhancing financial strength," said UNISOC previously. "The capital increase will be used for R&D in advanced technologies for 5G, IoT, AI and other fields, which will further strengthen technological competitiveness, and promote UNISOC's stable long-term development."
Source: UNISOC Technologies Co., Ltd.
Sectors: Electronics
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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