Shenzhen China Star Optoelectronics Technology Co., Ltd. made an offer to acquire an additional 38.31% stake in China Display Optoelectronics Technology Holdings Limited (SEHK:334) from Li Jian, Ouyang Hongping, Yang Yunfang, Zhao Yong, Ding Yiwen and others for approximately HKD 710 million on April 27, 2017. Under the terms, Shenzhen China Star Optoelectronics Technology Co., Ltd. offered to acquire 778.59 million shares at HKD 0.9 per share and 76.94 million options at HKD 0.16 per option. In a related transaction, Shenzhen China Star Optoelectronics Technology Co., Ltd. acquired a 53.8% stake in China Display Optoelectronics Technology Holdings Limited (SEHK:334) from TCL Corporation (SZSE:000100), T.C.L. Industries Holdings (H.K.) Limited, Zhuoxian Investment Limited and others for approximately HKD 980 million. The offeror intends to finance and satisfy the entire consideration by its own financial resources. Upon completion of the transaction, Shenzhen China Star Optoelectronics Technology Co., Ltd. intends for China Display Optoelectronics Technology Holdings Limited to remain listed on the stock exchange and does not intend to exercise its right to compulsorily acquire the shares not acquired under the offer. China Display Optoelectronics Technology Holdings Limited established an independent Board committee comprising all three independent non-executive Directors namely Hsu Wai Man Helen, Xu Yan and Li Yang to advise the independent shareholders and option holders in respect of the offer. As of May 22, 2017, the transaction was approved by the Board of Directors of China Display Optoelectronics Technology Holdings Limited and recommended the shareholders and option holders to vote in favor of the transaction. The tender offer will open on May 22, 2017 and close on June 12, 2017. Opus Capital Limited and BNP Paribas Securities (Asia) Limited acted as financial advisors to Shenzhen China Star Optoelectronics Technology Co., Ltd. As of May 5, 2017, Beijing Securities Limited was appointed as the independent financial advisor to advise the independent Board committee of China Display Optoelectronics Technology Holdings Limited.