Jiangsu Nata Opto-electronic Material Co., Ltd. agreed to acquire remaining 16.54% stake in Quanjiao Nata Opto-electronic Materials Ltd. for approximately CNY 230 million.
Jiangsu Nata Opto-electronic Material Co., Ltd. (SZSE:300346) agreed to acquire remaining 16.54% stake in Quanjiao Nata Opto-electronic Materials Ltd. for approximately CNY 230 million on January 10, 2025. A cash consideration of CNY 229.8 million will be paid by Jiangsu Nata Opto-electronic Material Co., Ltd. As part of consideration, CNY 229.8 million is paid towards common equity of Quanjiao Nata Opto-electronic Materials Ltd. Upon completion, Jiangsu Nata Opto-electronic Material Co., Ltd. will own 100% stake in Quanjiao Nata Opto-electronic Materials Ltd. As of July 31, 2024 Quanjiao Nata Opto-electronic Materials Ltd. reported total assets of CNY 980 million and net assets of CNY 740 million.
The transaction is subject to approval of offer by acquirer shareholders and approval of offer by acquirer board. The deal has been approved by the board.
Jiangsu Nata Opto-electronic Material Co., Ltd. is principally engaged in the research, development, production and distribution of metal organic sources (MO sources). The Company mainly provides trimethyl gallium, trimethyl indium, triethyl gallium, trimethyl aluminium and cyclopentadienyl magnesium, among others. The Company's products are mainly used in the manufacturing of light emitting diode (LED) , solar energy batteries, phase change memories, semiconductor laser equipment, as well as radio frequency integrated circuit chips, among others. Its products are mainly applied in semiconductor lighting, information communication and aerospace industries. The Company distributes its products within domestic market and to overseas markets.
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Jiangsu Nata Opto-electronic Material Co., Ltd. agreed to acquire remaining 16.54% stake in Quanjiao Nata Opto-electronic Materials Ltd. for approximately CNY 230 million.
