TongFu Microelectronics stock faces a big Monday vote on a 4.4 bln yuan share sale
TongFu Microelectronics shareholders will vote at 2:30 p.m. Monday on a private placement of up to 455.3 million new A shares, potentially raising 4.4 billion yuan. The stock closed Friday at 56.34 yuan, up 49% year-to-date. Proceeds are earmarked for capacity upgrades and debt repayment. Investors are watching for dilution and regulatory response.