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Huaqin Technology Subsidiary Buys More H Shares in Nexchip; Nexchip Hong Kong Shares Rise 3%

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Huaqin Technology (SHA:603296, HKG:3296) subsidiary Huaqin Telecom purchased 6.3 million H shares in Nexchip Semiconductor (SHA:688249, HKG:2249) for about HK$189.1 million, according to a Friday filing with the Hong Kong bourse.

The shares will comprise 0.28% of the total share capital of Nexchip. They were purchased at about HK$30.21 apiece.

Upon completion, Huaqin will hold 10.48% of Nexchip.

Shares in Huaqin rose 2% in Shanghai and Hong Kong, while Nexchip's shares jumped 3% in Hong Kong but slipped 2% in Shanghai.

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