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Maxio Technology Hangzhou Files Prospectus for Up to 2.1-Billion-Yuan Shares Placement

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Maxio Technology Hangzhou (SHA:688449) on Wednesday filed a prospectus with the Shanghai bourse for a private placement of up to 46 million shares to raise up to 2.06 billion yuan.

Proceeds will finance next-generation data storage controller chip research and development targeting data centers and intelligent terminals as well as for working capital.

The issuance to up to 35 investors will be priced at no less than 80% of the 20-day average trading price.

Shares of the storage-control chip developer fell 4% Thursday.

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