(Yicai Global) Oct. 23 -- Changsha Jingjia Micro Co. [SHE:300474] will raise USD200 million (CNY1.33 billion) via private placement. The company's financing plan has received offers from the China Integrated Circuit Industry Investment Fund Co. and Hunan province's investment and financing platform.
This company said yesterday that it has signed a subscription intention agreement for the issuance of non-public shares with Sino IC Capital Management Co. and Hunan High-Tech Venture Capital Investment Group Co.
The group said that it will invest all funds raised through this round of financing in the research, development and design of integrated circuits including high-performance graphics processor chips and general-purpose ones for consumer electronics to reinforce the firm's leading edge in graphics processing chip R&D in China and improve its strategic planning in IC design in the consumer electronics sector.
Sino IC Capital Management is the sole administrator of China Integrated Circuit Industry Investment Fund, and Hunan High-Tech Venture Capital Investment Group is a government-backed investment and financing platform that aims to boost the development of strategic emerging industries and high-tech ones, Jingjia Micro said.
The parties need to determine more share subscription details concerning the issuance of additional stocks and as the business is military-related, the company will have to go through the military affairs review of the State Administration of Science, Technology and Industry for National Defense before being able to announce the relevant plans about the non-public offering of stocks, Jingjia Micro said.