San'an Optoelectronics to raise funds to expand capacity

China-based LED epitaxial wafer and chip maker San'an Optoelectronics will issue 157.399 million new shares for private placement to raise additional paid-in capital of CNY3.51 billion (US$566 million), with CNY1.91 billion of it earmarked for expanding production capacity of LED wafers and chips and CNY1.60 billion for expanding that of GaAs and GaN chips for communications applications, according to the company.

from DIGITIMES: IT news from Asia http://ift.tt/1KD4d2g
via Yuichun