Anhui Tongfeng Electronics Company (SHA:600237) plans to fully acquire subsidiary Anhui Tongai Electronic Materials by buying the remaining the 25% it does not own yet for 32.7 million yuan, according to a Shanghai Stock Exchange disclosure on Thursday.
Tongai Electronic Materials produces and sells biaxially-oriented polyethylene terephthalate or BOPET films for capacitors and other electronic materials.
The Chinese capacitor manufacturer will buy the stake from South Korean polyester film manufacturer Microworks, the disclosure said.
Tongfeng's shares closed over 4% lower.
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