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Unisplendour to Dilute Stake in Computer Unit to 29.4%; Shares Up 9%

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Semiconductor company Unisplendour (SHE:000938) said it will dilute its stake in subsidiary Unisplendour Computer Technology amid a 440-million-yuan capital increase.

Unisplendour will waive its pre-emptive subscription rights, reducing its stake to 29.42% from 51%, with the subsidiary exiting consolidation, according to a Thursday filing with the Shenzhen bourse.

One of the five investors of the capital increase, Haichen Huicai, will acquire a 12% stake in Unisplendour Computer Technology from five existing shareholders before the implementation of the capital increase.

Shares of Unisplendour jumped 9% in recent trade.

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