GRINM Semiconductor Materials Shares Rise 10% as RS Technologies' Board Approves Prime Wafer Business Acquisition
RS Technologies' (TYO:3445) board of directors approved GRINM Semiconductor Materials' (SHA:688432) acquisition of all equity interests in Shandong GRINM RS Semiconductor Materials and Shandong GRINM Semiconductor Materials, according to a Tokyo bourse filing on Friday.The board also agreed to equity transfer agreements with existing shareholders and financing through new shares.The company looks to boost the competitiveness of its prime wafer business with the transaction.Shares of GRINM Semiconductor Materials, which resumed trading on the Shanghai Stock Exchange on Monday, rose nearly 10% in recent trade.