Grinm Semiconductor plans major asset restructuring; Alibaba gets net southbound inflows of HK$2.817 billion

M&A · Partnership
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Summary · why it matters

Semiconductor leader Grinm Semiconductor announced on the evening of August 28 that it is planning to acquire 71.89% equity in Shandong Grinm Ace by issuing shares and paying cash, and to acquire 14.98% equity in Shandong Grinm Semiconductor by issuing shares. After the transactions are completed, the two companies will become its wholly-owned subsidiaries. The deal is expected to constitute a major asset restructuring and a related-party transaction, but not a backdoor listing. Trading in the company's shares will be suspended for no more than five trading days starting August 31. Meanwhile, this week southbound funds made net purchases of Alibaba worth HK$2.817 billion, Tencent worth HK$1.512 billion, and Meituan worth HK$867 million. Alibaba recently completed a placement of 710 million new shares at HK$112.70 per share, raising net proceeds of about HK$79.7 billion, of which about 60% will be used to expand global computing infrastructure and about 40% to accelerate the construction of hyperscale AI data centers.

Impact on stocks 4

Artificial Intelligence▲ · 2 stocks
Alibaba Group Holding Ltd
9988
▲ PositiveCapitalrelevance

Southbound funds net bought HK$2.817 billion of Alibaba, and its HK$79.7 billion placement proceeds fund global computing infrastructure and AI data centers.

Advanced Air Mobility (eVTOL)▲ · 1 stocks
Others▲ · 1 stocks
GRINM Semiconductor Materials Co. Ltd. A
688432
± MixedCapitalrelevance

Grinm Semiconductor plans a major asset restructuring to acquire stakes in Shandong Grinm Ace and Shandong Grinm Semiconductor via share issuance and cash, with trading suspended.

Theme Impact 3

Off-coverage companies 2

Shandong Grinm Ace Semiconductor Materials Co., Ltd.Private± Mixed
relevance

Shandong Grinm Semiconductor Materials Co., Ltd.Private± Mixed
relevance

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