Shanghai Silicon delays acquisition audit response

Shanghai Silicon Industry Group received an audit inquiry from the Shanghai Stock Exchange on July 8 regarding its proposed acquisition of minority stakes in three semiconductor technology companies and a capital raise.

The company said it needs additional time to verify certain matters and will not meet the initial one-month response deadline. It has applied for an extension of up to one additional month to submit its response and required documents.

The transaction remains subject to Shanghai Stock Exchange approval and China Securities Regulatory Commission registration.