Hua Hong Semiconductor Limited (SEHK:1347) announced that it has entered into subscription agreement for a private placement of 242,398,925 shares at a price of HKD 12.9 per share for gross proceeds of HKD 3,126,946,132.5 with China Integrated Circuit Industry Investment Fund Co., Ltd, a fund managed by Huaxin Investment Management Co., Ltd on January 3, 2018. The transaction is subject to approval from stock exchange and necessary regulatory authorities. The shares issued have a lock up period of two years from the date of completion of the transaction.