San’an Opto Subsidiary Borrows RMB 140 M to Invest in IC Project

San’an Opto announced Thursday its subsidiary specializing in integrated circuits (IC) has borrowed RMB 140 million (US $22.04 million) loan that will be paid in 10 year instalments at an interest rate of 1.20%.

China’s sovereign investment arm, The State Development & Investment Corporation (SDIC), has been financially supporting San’an Opto’s developments. The corporation has financed 0.62% of the RMB 140 million loan for the IC project. In return San’an Opto is expected to pay back the state-owned company 1.2% of its investment benefits.

San’an Opto is expected to scale up repurchase of company shares on Oct. 10 every year from 2017 to 2025. The value of repurchases are RMB 3 million for the first two years, RMB 5 million in 2019, RMB 29 million and RMB 100 million.

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