Seamless Green (08150.HK) announced that the company entered into an agreement with the seller Li Wenbin on January 30. The company acquired a total of 16.595 million shares of common stock of the target company Guangying New Energy at a price of 15.7253 million yuan, which has been issued by the target company. The share capital is approximately 4.8%.
Seamless Green will issue new shares to pay the transaction consideration. The issue price is 1.16 yuan, which is 0.85% discount to the previous closing price. The issue is about 13.556 million shares, accounting for 2.51% of the enlarged share capital.
The Target Group is principally engaged in research and development, production and sales of LED lighting products on the mainland. The company stated that the value of the Sale Shares has potential for appreciation in the long run and believes that the Target Group should be able to take advantage of the market and industry conditions. These advantages are in line with the Chinese central government's efforts to improve LED technology in China and reduce the price of LED lighting solutions. Incentives to make LED solutions more affordable.
Seamless Green will issue new shares to pay the transaction consideration. The issue price is 1.16 yuan, which is 0.85% discount to the previous closing price. The issue is about 13.556 million shares, accounting for 2.51% of the enlarged share capital.
The Target Group is principally engaged in research and development, production and sales of LED lighting products on the mainland. The company stated that the value of the Sale Shares has potential for appreciation in the long run and believes that the Target Group should be able to take advantage of the market and industry conditions. These advantages are in line with the Chinese central government's efforts to improve LED technology in China and reduce the price of LED lighting solutions. Incentives to make LED solutions more affordable.
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