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ASE Technology's Unit to Invest 50 Million Yuan in Chinese Private Equity Fund; Shares Down 10%

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ASE Technology's (TPE:3711) subsidiary, Universal Scientific Industrial (Shanghai), will subscribe to 50 million yuan of the Shanghai Shangce Xingrongxin Private Equity Investment Fund Partnership, according to a Thursday filing with the Taiwan Exchange.

Counterparty Shanghai Guoce Investment Management will serve as the fund manager, general partner, and managing partner.

The subscription is targeted for long-term investment purposes, the semiconductor assembly company said.

Shares of the semiconductor assembly company were down 10% in recent trade.

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