HG Semiconductor (HKG:6908) signed a non-legally binding memorandum of understanding to acquire a stake ranging from 19.99% to 29.99% in Shenzhen Huaxinbang Technology.
The deal, announced on March 18, involves negotiations with Lai Zelian and Nanning Industrial Investment Emerging No. 1 Investment Fund Partnership.
Details, including valuation and settlement method, are subject to further discussions.
The MOU grants HG Semiconductor exclusive negotiation rights for 12 months, according to a Tuesday filing with the Hong Kong Exchange.
Shenzhen Huaxinbang, a semiconductor firm established in 2008, aligns with HG Semiconductor's expansion strategy in the GaN semiconductor market.
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