SK China invests 25 billion KRW in BYD Semiconductor
[Asia Economy Reporter Hwang Yoon-joo] SK Group's local holding company in China, SK China, announced on the 16th that it invested 150 million yuan (approximately 25 billion KRW) in China's BYD Semiconductor, securing a 1.47% stake.
Chinese electric vehicle company BYD announced the day before that it spun off BYD Semiconductor, which produces vehicle sensor chips, raising a total of 2.7 billion yuan (approximately 462 billion KRW).
The largest investor is the U.S. asset management firm Himalaya Capital, which invested 217 million yuan (37 billion KRW) to hold a 2.13% stake. SK China's investment is the second largest.
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In addition, British system semiconductor design company ARM, China's Xiaomi, Lenovo, SAIC Investment, BAIC Investment, and Hong Kong's CMB International also participated in acquiring shares of BYD Semiconductor. These investors collectively secured 26.5% of BYD Semiconductor's shares.
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