Hangzhou Jihua Investment Co., Ltd. announced that it expects to receive CNY 615 million in funding from Huaxin Investment Management Co., Ltd., Hangzhou Silan Microelectronics Co., Ltd
November 08, 2019
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Hangzhou Jihua Investment Co., Ltd. announced that it will receive CNY 615,000,000 in an equity round of funding on November 8, 2019. The transaction will involve participation from returning investors, Hangzhou Silan Microelectronics Co., Ltd (SHSE:600460) for CNY 315,000,000 and China Integrated Circuit Industry Investment Fund Co., Ltd., a fund managed by China Integrated Circuit Industry Investment Fund Co., Ltd. for CNY 300,000,000. Hangzhou Silan Microelectronics Co., Ltd (SHSE:600460) holds 51.22% stake and China Integrated Circuit Industry Investment Fund Co., Ltd. holds 48.78% stake in the company and post transaction will continue to retain their existing respective stakes in the company. The transaction will take place in two tranches, the first tranche of CNY 410,000,000 and the second tranche for CNY 205,000,000. Post completion of the transaction, the registered capital of the company will increase from CNY 410,000,000 to CNY 1,025,000,000. The transaction has been approved in the 5th meeting of the 7th directorate of the parent Hangzhou Silan Microelectronics Co., Ltd (SHSE:600460).
Hangzhou Silan Microelectronics Co., Ltd. is a China-based company principally engaged in the design, manufacture and sales of electronic components. The Company is also engaged in the importing and exporting of mechanical and electrical products. The Company's main products include integrated circuits, semiconductor discrete devices and light-emitting diode (LED) products. The Company mainly operates its businesses in Zhejiang Province, China.
Hangzhou Jihua Investment Co., Ltd. announced that it expects to receive CNY 615 million in funding from Huaxin Investment Management Co., Ltd., Hangzhou Silan Microelectronics Co., Ltd