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Zhongji Innolight Proposes to Acquire 11% of Power Filter Maker for 1.75 Billion Yuan

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Zhongji Innolight (SHE:300308) proposed to acquire 10.5% of Beijing Zhongshi Weiye Technology for a consideration of 1.75 billion yuan, according to a Friday disclosure on the Shenzhen bourse.

Zhongshi Weiye develops and produces thermal-conductive materials, EMI shielding materials, and power filters.

The stake represents 31,372,504 shares, which were priced at 55.70 yuan per share. The equities will be bought from three investors.

The Chinese optical interconnect equipment maker's shares rose 2% during the morning trade.

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