United Faith Auto-Engineering Halts Trading Amid Potential Acquisition

MT Newswires Live

05-07

United Faith Auto-Engineering (SHE:301112) on May 6 halted the trading of its shares amid plans to acquire a controlling stake in an automotive chip design company.

The deal, which includes a private placement for funding, is expected to conclude within 10 trading days by May 20, according to a Wednesday filing with the Shenzhen bourse.

If unsuccessful, the industrial automation company will resume trading and disclose its progress.

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