Institutional Investors Invest Up to $545 Million in Beijing Tongmei Xtal Technology
October 30, 2026
Beijing Tongmei Xtal Technology, a majority-owned subsidiary of AXT, entered into definitive agreements for institutional investors to invest between approximately $285 million and $545 million in its ordinary shares. The proceeds are intended to expand indium phosphide wafer and raw-material manufacturing capacity and support growth, capital expenditures, and working capital; the transaction is expected to close in December 2026.
- Buyers
- Institutional investors (including an unnamed major Asian asset manager)
- Targets
- Beijing Tongmei Xtal Technology
- Industry
- Manufacturing
- Location
- Beijing, China
- Transaction Type
- Growth capital
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