AXT's China unit Tongmei signs up to $545M private equity round

AXT's majority-owned China unit Beijing Tongmei Xtal Technology, an indium phosphide wafer maker, secured definitive agreements for a private equity financing round of up to RMB 3.67 billion (approximately $545M) to expand capacity as demand outpaces supply, with closing expected in December. The lead investor has committed to help Tongmei pursue an overseas listing.

Detected & updated continuously · Source: Nebula