China marks global chip ambitions with US$13b share sale
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Beijing
CHINA has taken its biggest step towards creating a national champion in global semiconductors with a planned US$13 billion private placement by an affiliate of Tsinghua Unigroup Ltd to build a chip plant and fund expansion.
Raising cash will bankroll a move into the mainstream memory market for China given that Taiwanese producers lack capital for expansion, Tsinghua Unigroup president Zhao Weiguo said in an e-mailed response to questions.
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