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Update: Hua Hong Grace Semiconductor Completes Acquisition of Huali Microelectronics; Shares Up 5%

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(Updates to add details about the deal compensation)

Hua Hong Grace Semiconductor (HKG:1347, SHA:688347) completed the acquisition of 97.5% of Shanghai Huali Microelectronics Corporation, according to a Shanghai bourse filing over the weekend.

The company fulfilled the consideration of 8.27 billion yuan for the deal through the issue of 190.8 million China-listed shares, bringing its total number of shares to nearly 1.93 billion.

Huali Microelectronics received a new business license after the transaction.

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