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ACM Research closes second investment round
ACM Research Inc., a supplier of wafer cleaning technologies for advanced semiconductor devices, has completed a second tranche of private equity investments in its principal operating subsidiary, ACM Research (Shanghai) Inc.
The investment of USD 32.4 million will support ACM Shanghai’s plan to list its shares on the Shanghai Stock Exchange’s Sci-Tech innovAtion boaRd, known as the STAR Market, a press release said. In the financing, ACM Shanghai sold shares at a pre-money valuation of almost USD 689 million to eight China-based investment firms, including Shanghai Integrated Circuit Industry Fund Co., Ltd, Shanghai Pudong Emerging Industry Investment Co., Ltd and Shanghai Zhangjiang Technology Venture Capital Co., Ltd.
ACM Shanghai has also completed its transition to corporation, putting it a step closer to listing ACM Shanghai shares on the STAR Market. The company has said it is on target for submitting its IPO application by mid-2020. by mid-2020.
Founded in 1998, ACM Research develops, manufactures and sells single-wafer wet cleaning equipment. The company is headquartered in Fremont, California.
