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Trading in GRINM Semiconductor Shares Suspended Amid Transaction Uncertainty

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Trading in GRINM Semiconductor Materials' (SHA:688432) shares will continue to be suspended for up to five trading days from Sept. 7 amid uncertainties regarding its transactions, according to a Saturday filing with the Shanghai bourse.

Trading was already suspended since Aug. 31 prior to the transactions, but negotiations are still ongoing, according to the filing.

The semiconductor materials maker plans to buy a 71.89% stake in Shandong GRINM AIS Semiconductor Materials from China GRINM Technology Group and Dezhou Huida Semiconductor Equity Investment Fund Partnership.

It is also looking to buy a 14.98% stake in Shandong GRINM Semiconductor Materials from Dezhou Economic and Technological Development Zone Jingtai Investment through a share issuance.

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