Guo Manjin, Chairman and Chief Executive Officer of Hongfa Technology Co. Ltd completed the acquisition of 7.49% stake in Hongfa Technology Co., Ltd. from Xiamen Youge Investment Co., Ltd.
January 15, 2016
Share
Guo Manjin, Chairman and Chief Executive Officer of Hongfa Technology Co. Ltd signed an agreement to acquire 7.49% stake in Hongfa Technology Co., Ltd. (SHSE:600885) from Xiamen Youge Investment Co., Ltd for approximately CNY 880 million on January 14, 2016. Xiamen Youge Investment Co., Ltd will sell 40 million shares of Hongfa Technology Co., Ltd at CNY 22.1 per share. After the transaction, Xiamen Youge Investment Co., Ltd will hold 26.8% stake and Guo Manjin will hold 7.52% stake in Hongfa Technology Co., Ltd.
Guo Manjin, Chairman and Chief Executive Officer of Hongfa Technology Co. Ltd completed the acquisition of 7.49% stake in Hongfa Technology Co., Ltd. (SHSE:600885) from Xiamen Youge Investment Co., Ltd on January 16, 2016.
Hongfa Technology Co., Ltd. is a China-based company principally engaged in the research, manufacture and sale of relays. In addition to the main product of relays, the Company also provides low-voltage electrical appliances, high-and low-voltage complete sets of equipment, precision spare parts, sensors, capacitors and automation equipment. The products of the Company are applied in industrial, energy, transportation, information, life appliances, healthcare and national security industries. The Company also owns laboratories for relay detection and analysis. The Company distributes its products within domestic market and to overseas markets.
Guo Manjin, Chairman and Chief Executive Officer of Hongfa Technology Co. Ltd completed the acquisition of 7.49% stake in Hongfa Technology Co., Ltd. from Xiamen Youge Investment Co., Ltd.