Chinese chip packing firm TongFu MicroElectronics has released new shares to the value of RMB 2.69 billion ($370 million) in order to raise funds, a filing published by the company noted on Tuesday. Seven firms have been allocated the 184.2 million shares, one of which is the second phase of the Chinese semiconductor “Big Fund”, which invested RMB 300 million, 11.13% of the total. Suzhou government-backed SIP Oriza PE Fund took a majority of 68.4 million shares, 37.1% of the sum. Founded in 1997, TongFu MicroElectronics went public in Shenzhen in 2007. The Suzhou-based firm focuses on chip packing and testing. According to Chinese business data platform Qichacha, the company also received investment from the first phase of the “Big Fund,” which held 15.13% of the firm’s shares at that time. [ijiwei, in Chinese]