Sunstone plans to acquire 94.9777% Shares of Xinyuan Electronics for RMB1.14 billion
2022-09-13 16:05:20 [Print]
Sunstone Development announced on September 9 that it plans to purchase 94.9777% shares of Foshan Xinyuan Electronics Co., Ltd. for RMB1.14 billion (USD165 million). The issue price of the acquisition and cash payment for the assets is RMB17.73 (USD2.56) per share. The company also intends to raise supporting funds in a private placement. Xinyuan Electronics' main business includes R&D, production, processing and sales of lithium ion battery anode materials and film capacitors.
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