Piotech Commits 500 Million Yuan to Chip Industry Fund; Shares Up 3%

MT Newswires Live

08/21

Piotech (SHA:688072) unit Shanghai Yanquan Technology will invest 500 million yuan for a 9.70% stake as a limited partner in the Changzhi Hanhai private equity fund.

The fund, focused on integrated circuit investments, will see its total capital increase to 5.16 billion yuan from 3.91 billion yuan following additional contributions from existing partners, according to a Friday filing with the Shanghai bourse.

Shares of the semiconductor device manufacturer rose 3% in recent trade.

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