Changchuan raises 3.13B yuan in private placement, UBS takes largest slice

Changchuan Technology has raised 3.13 billion yuan (about $461.7 million) through a private placement of shares to select investors, the company said in a July 15 filing. It issued 11.1636 million shares at 280.11 yuan each, with net proceeds of 3.09 billion yuan.

The placement drew 11 investors. UBS AG received the largest allocation at 1.799 billion yuan, followed by GF Fund Management at 328 million yuan and Nord Fund Management at 238 million yuan.

A foreign bank leading a mainland Chinese share placement points to continued institutional appetite for the country's semiconductor supply chain, even as capital markets stay selective.