Joyson Electronic to Boost Stake in Auto Components Maker to Nearly 70%

MT Newswires Live

03/24

Ningbo Joyson Electronic (HKG:0699, SHA:600699) will acquire an additional 12.4% equity in Anhui Joyson Auto Safety Systems Holdings for 2.52 billion yuan, according to a Hong Kong bourse filing on Monday.

The Chinese automotive electronics supplier's Hong Kong shares slipped less than 1% during Tuesday morning trade.

The stake will be purchased from Future Industry Investment Fund (Limited Partnership).

After the transaction, Joyson's shareholding in the automotive components manufacturer will rise to 69.5% from 57.1%, and Future Industry Fund will no longer hold any stake in Anhui Joyson.

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