Asia
Jingce Electronic to Buy Stake in Metrology Equipment Maker; Shares Down 13%
Wuhan Jingce Electronic Group (SHE:300567) plans to acquire 41.2% of Shanghai Jingce Semiconductor Technology, a manufacturer of semiconductor front-end metrology and inspection equipment, according to a Shenzhen bourse filing on Thursday.The stake will be acquired from 13 investors, with the transaction consideration to be settled through a share placement, convertible bond issuance and cash.The shares to be placed will be worth 154.38 per share, while the convertible bond will have a term of six years.The price for the acquisition, which is still in the preliminary planning stage, is yet to be finalized.The Chinese electronics company's shares dropped 13% during the afternoon trade.
SHE:300567
