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Hwatsing Technology Seeks Up to 3.8 Billion Yuan Via Private Placement; Shares Rise 5%

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Hwatsing Technology (SHA:688120) is looking to raise up to 3.80 billion yuan from the issuance of up to 49.5 million shares to 35 investors in a private placement, according to a prospectus filed Wednesday with the Shanghai bourse.

The company plans to use the proceeds from the issuance to fund its integrated circuit equipment research and development and manufacturing base, a wafer regeneration expansion project, and its semiconductor equipment R&D project.

Shares rose 5% during the midday break on Wednesday.

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