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Huaqin Telecom Ups Stake in Nexchip to 10.82%

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Huaqin's (SHA:603296, HKG:3296) wholly owned subsidiary, Huaqin Telecom, purchased 4.45 million H-shares of Nexchip Semiconductor (SHA:688249) at an average price of HK$32.39 per share, for a total of HK$144 million.

Following this on-market acquisition, the group's total stake in Nexchip now stands at 10.82%, according to a Hong Kong bourse filing on Wednesday.

The consideration was fully settled from the group's existing cash reserves, with the counterparties confirmed as independent third parties.

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