JCET Group (SSE: 600584), a global provider of integrated circuit (IC) manufacturing and technology services, recently announced that the company successfully completed a capital raising of approximately RMB 5 billion.
The RMB 5 billion private placement successfully raised in the first round included top overseas institutional buyers with more than half of the amount from Abu Dhabi Investment Authority, JP Morgan Chase Bank, GF Asset Management, and Loyal Valley Capital. This diversified investor structure is a reflection of the markets recognition of JCET’s world class operations and management efforts to fortify its leading position in the industry.
Ms. Janet Chou, CFO of JCET said, “The successful completion of the private placement enhanced our balance sheet strength. We are better positioned to develop competitive innovations and solutions to serve our customers in the global market.”
The fund will enhance JCET’s capabilities in SiP, QFN, BGA and IC manufacturing solutions to better meet the demand for packaging devices for 5G communication, Big Data, Automotive electronics， and other applications. It provides JCET with great capabilities for expanding production capacity and optimizing financial structure.
Mr. Li Zheng, Chief Executive Officer of JCET said, “We are grateful for the enthusiastic participation of renowned domestic and international investment institutions in the private placement project. We are committed to building JCET into a global first-class enterprise, providing advanced and reliable IC device manufacturing technology and services for a smarter world, and to giving back to our shareholders, customers, employees，and society.”