January 3, 2018 / 1:50 PM / 10 months ago

BRIEF-Hua Hong Semiconductor Announces Subscription And JV Agreement

Jan 3 (Reuters) - Hua Hong Semiconductor Ltd:

* CHINA INTEGRATED CIRCUIT INDUSTRY INVESTMENT FUND​ TO SUBSCRIBE FOR & CO TO ALLOT & ISSUE 242.4 MILLION SUBSCRIPTION SHARES

* ‍NET PROCEEDS OF SUBSCRIPTION WILL BE ABOUT US$400 MILLION

* CO, HHGRACE, JV COMPANY, SUBSCRIBER AND WUXI ENTITY ENTERED INTO CAPITAL INCREASE AGREEMENT

* ‍SUBSCRIPTION SHARES AT PRICE OF HK$12.90 PER SUBSCRIPTION SHARE​

* AGREEMENT TO INCREASE REGISTERED SHARE CAPITAL OF JV COMPANY FROM RMB6.7 MILLION TO US$1.80BLN

* CO & HHGRACE TO INJECT $400 MILLION AND $518 MILLION IN CASH RESPECTIVELY TOWARDS JV CO

* ‍SUBSCRIBER & WUXI ENTITY WILL EACH CONTRIBUTE $522 MILLION AND $360 MILLION IN CASH TO JV CO​ Source text for Eikon: Further company coverage:

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