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AMEC Raises 1.49 Billion Yuan in Net Proceeds From Share Placement; Shares Jump 6%

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Advanced Micro-Fabrication Equipment China (SHA:688012) or AMEC raised net proceeds of approximately 1.49 billion yuan from a share placement, according to a Shanghai bourse filing on Thursday.

The share placement was part of the company's plan to acquire 64.69% of AMEC Zhonggui (Hangzhou) Electronic Technology. The transaction will also be partly settled with cash.

The Chinese chip gear maker placed 5,156,765 shares for 290.88 yuan per share to four investors, SDIC Jixin (Beijing) Equity Investment Fund (Limited Partnership), Shanghai Pudong Emerging Industry Investment, Shangrong (Ningbo) Investment Center (Limited Partnership) and Guosen Securities (Hong Kong) Asset Management.

The company's shares jumped over 5% during the morning trade.

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