Semiconductor shares slid in Hong Kong. Innoscience, SMIC, Brainhole Tech down over 4%; Solomon Systech, Megain, Comtec Solar down over 3%.

INNOSCIENCE announced the placement of 20.7 million new H shares, representing approximately 3.94% and 2.26% of the enlarged H shares and total issued shares, respectively, at a price of HKD75.58 per share, representing a discount of approximately 7.88% to the closing price of HKD82.05 per H Share as quoted on the Last Trading Day (9th).

The company expected the net proceeds from the placement to be approximately HKD1.55 billion. Approximately 31% of the proceeds will be used for capacity expansion and continuous product iteration and upgrading; approximately 24% of the proceeds will be used for repayment of interest-bearing liabilities; and approximately 45% of the proceeds will be used for working capital and general corporate purposes.