Yantai North Andre Juice to Buy 62% Stake in IC Materials Maker; Shares Fall 15%
MT Newswires Live
Sep 21
Yantai North Andre Juice (HKG:2218, SHA:605198) agreed to acquire a 62.1% stake in Ningbo Yongqiang Technology for 792.8 million yuan in cash, according to a Sept. 18 filing with the Hong Kong bourse.
The acquisition will make Ningbo Yongqiang a non-wholly owned subsidiary of Yantai North Andre, with its financial results consolidated into the group's accounts.
Ningbo Yongqiang is a high-tech company focused on the research, development, manufacturing and sales of electronic information interconnection materials for integrated circuits, the filing said.
Shares of the Andre Juice were down nearly 15% in Monday morning 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.