Hong Kong Stock's Wah Hong Semiconductors Plunges Over 10% to HK$46.06; A-Shares of Wah Hong Company Suspended for Acquisition Plan!
Glorion August 18th｜Wah Hong Semiconductors (1347.HK) plunged over 10% to HK$46.06; A-shares of Wah Hong company suspended. Wah Hong company (688347.SH) announced that it is planning to acqu
Glorion August 18th｜Wah Hong Semiconductors (1347.HK) plunged over 10% to HK$46.06; A-shares of Wah Hong company suspended.
Wah Hong company (688347.SH) announced that it is planning to acquire a controlling stake in Shanghai Wah Li Microelectronics Co., Ltd. through the issuance of shares and payment of cash, while also raising funds to support this acquisition. The target assets are the equity interests corresponding to the assets operated by Shanghai Wah Li Microelectronics Co., Ltd., which exist in competition with Wah Hong company's 65/55nm and 40nm production lines (Wah Hong Five Factory). Currently, the target assets are in a state of separation.