The application for pioneering board issuance of Huahong Semiconductor Department was accepted, and it is proposed to raise 18 billion yuan.

Thank you, Mr. Air, a netizen of CTOnews.com, for your clue delivery! November 7 news, according to the official website of the SSE, the SSE has accepted the application of Science and Technology Innovation Board IPO of Huahong Semiconductor Co., Ltd.

According to the prospectus, the company plans to issue no more than 433.73 million RMB common shares to the public, and the net amount of the actual raised funds after deducting the issuance expenses is planned to be invested in the following projects:

Among them, Huahong Manufacturing (Wuxi) project will raise 12.5 billion yuan; 8-inch factory optimization and upgrading project will use 2 billion yuan; characteristic process technology innovation R & D project will use 2.5 billion yuan; supplementary current funds will be used to raise 1 billion yuan.

This will be another Hong Kong semiconductor company planning to issue A shares after SMIC returns to A shares. According to public data, Huahong Semiconductor, founded in 2005, is a subsidiary of Huahong Group. The company's products cover embedded non-volatile memory, power devices, analog and power management, logic and RF and other differentiated process platforms. Huahong 8-inch wafer production capacity of 178,000 wafers per month by the end of 2020, accounting for about 3% of the world, is the second largest foundry enterprise in Chinese mainland region.