Follow-on in RDA Microelectronics raises $77.2 million

More than 95% of the shares are sold by Warburg Pincus, which reduces its stake in the US-listed Chinese semiconductor company to 38%.

Follow-on in RDA Microelectronics raises $77.2 million

A Warburg Pincus-led follow-on in Nasdaq-listed RDA Microelectronics has raised $77.2 million after fixing the price at a 2.1% discount to the latest close. The deal was priced at the end of US trading last Wednesday.

As the second follow-on in a US-listed Chinese chipmaker in less than a month, the deal shows that investors are willing to look at deals by Chinese issuers that are already known to them and that are covered...

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