Kangda New Materials (SHE:002669) signed a letter of intent (LOI) to acquire at least a 51% stake of Chengdu-based Zhongke Huami, a specialist in high-reliability integrated circuits for defense and aerospace.
Final agreement is subject to due diligence, approvals, and pricing consensus, according to a Friday filing with the Shenzhen bourse.
Shares of the structural adhesives manufacturer were down 4% in recent trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.