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OFILM Gets Chinese Securities Regulator's Nod to Issue Shares for Acquisition

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OFILM (SHE:002456) received approval from the China Securities Regulatory Commission to place shares for an acquisition, according to a Shenzhen bourse filing on Wednesday.

The company was allowed to place 137,643,466 shares to Nanchang Chanmeng Investment Management for the acquisition of 28.2% of OFILM Microelectronics (Nanchang).

The Chinese optoelectronic products manufacturer's shares slumped 6% at the close.

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