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Konfoong Materials International Unit to Invest 417 Million Yuan in Semiconductor Fund

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Konfoong Materials International (SHE:300666) subsidiary Jiangfeng Boxin will invest 417 million yuan to establish a limited partnership with related parties and professional investment institutions.

The partnership, tentatively named Ningbo Yongguang Tongxing, will have total contributions of 600 million yuan, with Jiangfeng Boxin holding 69.50%, according to a Wednesday filing with the Shenzhen bourse.

The fund will target semiconductor upstream and downstream opportunities aligned with the company's core business.

Shares of the semiconductor materials manufacturer rose 1% in recent trade.

What else is happening in Asia?

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KLSE:CARIMINKLSE:SEALINK