Asia
China Frontier to Acquire Stake in Functional Materials Firm
China Frontier Technology Group (HKG:1661) said it agreed to acquire a 49% stake in Ningbo Qihe New Material Technology for 19.6 million yuan, according to a Hong Kong bourse filing Thursday.Shares of the sports culture group gained over 8% in morning trade Friday.The firm is acquiring the stake from Shenzhen Bochi Electronics for cash.Qihe New Material is focused on functional materials research and the acquisition is part of Frontier Technology's plan to diversify into the functional materials market.
HKG:1661
