Hongkong Lotteon Trading Co., Limited decided to make a tender offer to acquire 26% stake in Ningbo Yidong Electronic Co. Ltd. (SEHK:8249) from public shareholders for HKD 16 million in cash on December 19, 2011. Under the terms, Hongkong Lotteon will acquire 130 million shares at HKD 0.1232 per share in cash. In a related transaction, Qi Yong Qiang and Wan Li Group Company Limited entered into an agreement to acquire 74% stake in Ningbo Yidong Electronic Co. Ltd. from China Ruilian Holding Corp, Wang Ya Qun, Wei Hong Jun, YanLi, Shi Jian Er, Gong Zheng Jun and Chen Zheng Tu for CNY 37 million in cash on December 19, 2011. The offer will be financed by a loan facility. The offeror has sufficient financial resources to meet acceptances in full of the share offer. The independent Board committee has been established to advise the independent shareholders of Ningbo Yidong in respect of the offer. The offer is unconditional but that the making of the offer is subject to the completion of the related transaction. Hongkong Lotteon intends to maintain the listing of the shares on the stock exchange after the close of the offer. As of May 28, 2012, it was announced that the offer opens on March 2, 2012 and closes on June 19, 2012. Tricor Abacus Limited acted as registrar for Ningbo Yidong Electronic. Partners Capital International Limited acted as financial advisor for Hongkong Lotteon. Chanceton Capital Partners Limited acted as financial advisor for Ningbo Yidong Electronic Co. GF Capital (Hong Kong) Limited acted as financial advisor for independent Board committee of Ningbo Yidong Electronic. Lo and Kwong CPA Company Limited acted as an accountant and Avista Valuation Advisory Limited acted as an independent valuer to Ningbo Yidong Electronic. Hongkong Lotteon Trading Co., Limited completed the acquisition of 4.33% stake in Ningbo Yidong Electronic Co. Ltd. (SEHK:8249) from public shareholders for HKD 2.7 million in cash on June 19, 2012. As part of tender offer, Hongkong Lotteon acquired 21.67 million shares in Ningbo Yidong Electronic.