On February 1st, semiconductor manufacturer SinoMOS International announced that its fully-owned subsidiary, Shenzhen McWell, has renew its structured deposit agreement with Bank of China. Under the agreement, Shenzhen McWell will redeem RMB 3.5 billion in January 2023 and subsequently purchase two structured deposits with the same amount, split into RMB 1.76 billion and RMB 1.74 billion. Funding for the subscription will be drawn from SinoMOS’ existing cash reserves and free cash flow.
Reference:
1. Disclosure required for purchase of structured deposits.
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