Asia
GRINM Semiconductor Materials Targets 60% Stake in Jinglong Semiconductor; Shares Up 4%
GRINM Semiconductor Materials (SHA:688432) plans to acquire a 60% stake in Jinglong Semiconductor via a public bidding process for no less than 450.7 million yuan.Jinglong Semiconductor manufactures semiconductor discrete devices and electronic specialty materials, according to a Wednesday filing with the Shanghai bourse.The proposed transaction remains subject to shareholder approval.Shares of the semiconductor materials maker rose 4% in recent trade.
SHA:688432