Tibet Dongfang Qihui Investment Co., Ltd. completed the acquisition of 9.9% stake in Shanghai Fullhan Microelectronics Co., Ltd. from Jiezhi Holdings Co., Ltd.
October 25, 2020
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Tibet Dongfang Qihui Investment Co., Ltd. intends to acquire 9.9% stake in Shanghai Fullhan Microelectronics Co., Ltd. from Jiezhi Holdings Co., Ltd. on April 29, 2020. Tibet Dongfang Qihui Investment Co., Ltd. signs an agreement to acquire 9.9% stake in Shanghai Fullhan Microelectronics Co., Ltd. from Jiezhi Holdings Co., Ltd. for approximately CNY 990 million on September 1, 2020. Under the terms, Tibet Dongfang Qihui Investment Co., Ltd. will acquire 7.92 million shares at CNY 124.87 per share where shall pay 80% of the total price to the Jiezhi Holdings within 3 working days after obtaining the Shenzhen Stock Exchange written confirmation on the transfer of shares and on the date when China Securities Depository and Clearing Corporation Limited issues the securities transfer registration confirmation 20% of the total price shall be paid to the transferor. After the transaction Jiezhi Holdings holds 12.52% of stake in Shanghai Fullhan Microelectronics.
Tibet Dongfang Qihui Investment Co., Ltd. completed the acquisition of 9.9% stake in Shanghai Fullhan Microelectronics Co., Ltd. from Jiezhi Holdings Co., Ltd. on October 26, 2020.
Shanghai Fullhan Microelectronics Co., Ltd is a China-based company mainly engaged in chip design, research and development business. The Company specializes in the design and development of security video surveillance, automotive electronics, intelligent hardware chips, providing customers with high-performance video codec SOC chip, image signal processor ISP chip and complete product solutions, as well as providing technology development, IC design and other technical services. The Company distributes its products in domestic market and to overseas markets.
Tibet Dongfang Qihui Investment Co., Ltd. completed the acquisition of 9.9% stake in Shanghai Fullhan Microelectronics Co., Ltd. from Jiezhi Holdings Co., Ltd.