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Olympic Circuit Technology's Controlling Unit to Acquire 20% of Battery Connection Systems Maker; Shares Down 3%

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Olympic Circuit Technology's (SHA:603920) controlling subsidiary agreed to acquire 19.7% of Plati Electronics (Shenzhen) through a capital increase of 70 million yuan, according to a Shanghai bourse filing on Tuesday.

Jiangmen Shiyuan Equity Investment Partnership (Limited Partnership), the controlling shareholder, will subscribe for 13.6 million yuan worth of Plati's newly issued capital.

Plati produces power battery connection systems, with the products used for internal battery pack connections, signal collection and temperature sensing in new electric vehicles.

Moreover, related party Heshan Lianzhi Investment plans to acquire 4.23% of Plati Electronics from Shenzhen Derun Electronics for 2.9 million yuan.

The printed circuit board maker's shares fell 3% during the afternoon trade.

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