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HG Semiconductor Introduces New Strategic Investor
May 19, 2022 | ACN NewswireEstimated reading time: Less than a minute
HG Semiconductor Limited is pleased to announce the introduction of a new strategic investor, Wide Yield Investment Holding Limited, which supports the vision and expansion of the Group to build a world-class third-generation semiconductor industry chain platform.
Star Eagle Enterprises Limited disposed of 100,500,000 Shares (representing approximately 17.83% of the total issued shares of the Group) to Wide Yield Investment at a total consideration of HK$302,103,000. Upon completion, Wide Yield Investment and its ultimate beneficial owner has become a substantial shareholder of the Group.
The management of the Group is delighted to introduce Wide Yield Investment into HG Semiconductor as one of its major shareholders. The investment is a testament to the confidence of Wide Yield Investment in the Group's business strategies and prospects. Through strategic investor introduction, HG Semiconductor believes that its shareholding structure and financial position will be further strengthened, giving it a full play to develop and deepen its presence in gallium nitride (GaN) semiconductor sector. The Group will continue to build on its existing strengths, accelerating growth in its GaN semiconductor business, striving to generate continuous and stable returns for its shareholders in the long run.
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