National Silicon Industry Group buys equity, plans capital raise

National Silicon Industry Group (NSIG) [SSE:688126] is moving to consolidate its holdings in key subsidiaries through an equity purchase and capital raise plan, as seen in a series of announcements. NSIG intends to acquire the remaining equity stakes in Shanghai Sinyang Semiconductor Materials, Shanghai Silicon Source Bay Semiconductor Technology, and Shanghai Jizun Semiconductor Technology, with each entity playing a crucial role in NSIG's silicon wafer production chain. To fund this acquisition and related expenses, NSIG will conduct a private placement of shares to no more than 35 qualified investors. These funds will be used for project construction, transaction payments, and working capital. The Board of Directors and Supervisory Committee have already reviewed and approved the transaction plan, pending further shareholder and regulatory approvals. Due to potential market fluctuation and regulatory changes, uncertainties remain regarding approvals and final transaction terms. NSIG is slated to resume trading on March 10, 2025.