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FINWIRES

GigaDevice Semiconductor Agrees to Extend Partnership Fund to 2027; Shares Down 8%

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GigaDevice Semiconductor (HKG:3986, SHA:603986) agreed to extend the operating term of Beijing Yitang Huachuang Equity Investment Center (Limited Partnership) to August 2, 2027, according to a Shanghai bourse filing on Saturday.

The Chinese semiconductor company's Shanghai shares dipped 8% and Hong Kong shares fell 5% during Monday's morning trade.

The 1.12 billion yuan fund, which is currently in the exit period, was extended because certain portfolio investments require additional time to complete their exits.

The company, which owns 8.97% of the fund, received 139.4 million yuan from the fund.

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