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Nexchip Semiconductor Nets HK$345 Million From Partial Exercise of IPO Over-Allotment Option

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Nexchip Semiconductor (HKG:2249, SHA:688249) said the over-allotment option of its Hong Kong initial public offering was partially exercised on Thursday, according to a same-day Hong Kong bourse filing.

The chipmaker expects to raise about HK$345.3 million in additional net proceeds.

The exercise involved the issue of 10.9 million additional H-shares at HK$32.30 each, representing about 5% of the total offer shares initially available under the global offering.

Dealings in the over-allotment shares are expected to begin on Aug. 11, the filing said.

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