ACMR - ACM Research to list on Shanghai Stock Exchange

ACM Research (ACMR) announces the approval of listing of shares of ACM's principal operating subsidiary ACM Research for the Shanghai Stock Exchange STAR Market.Company submitted the application in May 2020." Our plan remains on track to price the transaction by year-end, pending timely approvals. We expect to use net proceeds of the STAR Market IPO to fund product development in order to upgrade and expand our process equipment to more advanced process nodes, to provide working capital for demo tools to current and new customers globally, and to fund the land lease and building construction for ACM Shanghai’s R&D and production center in the Lingang region of Shanghai." says Dr. David Wang, president and CEO.

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ACM Research to list on Shanghai Stock Exchange