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INTEL CORPORATION

(INTC)
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Intel : UNISOC Completes Equity Restructuring, Promotes IPO Process

07/13/2020 | 05:55am EDT

SHANGHAI, Jul 13, 2020 - (ACN Newswire) - - As announced on May 12, Chinese fabless semiconductor company UNISOC increased capital by CNY 5 billion (USD 715 million) to complete its equity restructuring. The IPO process is now on track for a 2021 listing on the SSE STAR Market, Shanghai's recent NASDAQ-style Science and Technology board, by the restructured company valued at CNY 55 billion (USD 7.86 billion).

Based on Shanghai Stock Exchange (SSE) announcements, UNISOC completed the relevant registration on June 8 including the formalities of a capital increase of CNY 4.2 billion (USD 600 million) to CNY 4.62 billion (USD 660 million) and the substantially altered equity structure. The listing entity will be UNISOC Communications (Shanghai) Technology Co., Ltd.

UNISOC shareholders have increased from 7 to 31, including 17 investment funds (limited partnerships) accounting for 70% of new shareholdings. Beijing Spreadtrum Investment remains the largest shareholder with 38.55% (57.14% pre-restructuring), followed by China National IC Industry Investment Fund (CICIIF or 'Big Fund') with 15.27%, and Intel (China) with 12.98%. Shanghai IC Industry Investment Fund and China National Fund II follow jointly in fourth, with each holding 4.09%.

"This equity reorganization is conducive to optimizing equity structure and enhancing financial strength," said UNISOC previously. "The capital increase will be used for R&D in advanced technologies for 5G, IoT, AI and other fields, which will further strengthen technological competitiveness, and promote UNISOC's stable long-term development."

Copyright 2020 ACN Newswire . All rights reserved.

© Japan Corporate News, source JCN Press Releases

Stocks mentioned in the article
ChangeLast1st jan.
INTEL CORPORATION 1.19% 53.7 Delayed Quote.6.52%
SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION 4.97% 26.4 End-of-day quote.19.46%
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Financials (USD)
Sales 2021 73 743 M - -
Net income 2021 16 856 M - -
Net Debt 2021 11 352 M - -
P/E ratio 2021 12,9x
Yield 2021 2,61%
Capitalization 215 B 215 B -
EV / Sales 2021 3,07x
EV / Sales 2022 3,08x
Nbr of Employees 110 600
Free-Float 99,9%
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Mean consensus HOLD
Number of Analysts 48
Last Close Price 53,07 $
Average target price 63,03 $
Spread / Average Target 18,8%
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Managers and Directors
Patrick P. Gelsinger Chief Executive Officer & Director
George S. Davis Chief Financial Officer & Executive Vice President
Omar S. Ishrak Independent Chairman
Daniel J. McKeon Vice President-Information Technology Group
Ann B. Kelleher Senior Vice President & GM-Technology Development
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