NEC exits Hua Hong Semiconductor through block

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By Jonathan Breen
17 Feb 2021

Japan's NEC Corp offloaded its remaining stake in Hong Kong-listed Hua Hong Semiconductor on Tuesday, raising HK$5.69bn ($733.9m).

The Japanese IT and electronics company sold 99.04m of its shares of Hua Hong, equal to about 8% of the firm’s total share capital, said a source familiar with the matter.

Goldman Sachs and Daiwa Securities worked on the accelerated bookbuild for the block trade on Tuesday evening ...

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