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GalaxyCore plans up to 4.2 bln yuan private placement for CIS expansion
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GalaxyCore, a Chinese semiconductor company, announced on September 18 its plan to issue A-shares to no more than 35 specific investors, aiming to raise up to 4.2 billion yuan. The proceeds are allocated for a 3 billion yuan expansion project for 12-inch CIS (CMOS Image Sensor) integrated circuit specialty processes, a 500 million yuan R&D and industrialization project for high-performance, high-pixel image sensors, and 700 million yuan for replenishing working capital. The share issuance is capped at 390 million shares. The plan is still subject to approval by the shareholders' meeting, review by the Shanghai Stock Exchange, and registration with the China Securities Regulatory Commission (CSRC).
Source report
Jin10 Data, September 18 — GalaxyCore has announced plans to issue A-shares to no more than 35 specific investors, with total proceeds not exceeding RMB 4.2 billion. The number of shares issued will be capped at 390 million.
Use of Funds
The raised funds are allocated as follows:
- RMB 3 billion — Expansion project for 12-inch CIS integrated circuit specialty processes
- RMB 500 million — R&D and industrialization project for high-performance, high-pixel image sensors
- RMB 700 million — Replenishment of working capital
Regulatory Approvals Required
The plan remains subject to:
- Approval by the shareholders' meeting
- Review by the Shanghai Stock Exchange
- Registration with the China Securities Regulatory Commission (CSRC)
Source
金十数据Neutral / independent
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GalaxyCore plans up to 4.2 billion yuan private placement for CIS chip expansion