www.bethelfinance.com
Bethel Finance newS:
Two Chinese private equity funds, Oriental Fortune Capital and Kaiwu Capital will invest $36 million in Access, a joint venture of Priortech Ltd. (TASE:PRTC) subsidiary Amitec Ltd. and a Chinese partner, at a company value of $191 million, after money. Amitech provides high performance chip carriers and Flip Chip Ball Grid Array (FCBGA) substrates for packaging.
Amitec and its partner signed agreements for the future management of Access, under which Amitech will continue to have an influential role in the joint venture, including the right to appoint two of its five directors, and consent to future material decisions.
Access is also in talks with a Korean private equity fund to invest in the current financing round.
The Chinese regulator still has to approve the investment, which Access hopes to obtain within a week.
Priortech's share price rose 3.5% today to NIS 27.25, giving a market cap of NIS 300 million.
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