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Piotech Unveils Plans to Acquire 82.97% Stake in Wuxi Shangji via Share Issuance and Cash Payment
9 hour ago /
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Author：小编
On October 15, Piotech made an announcement detailing its intention to acquire an 82.97% stake in Wuxi Shangji, along with a 100% stake in both Shanghai Taina Micro and Wuxi Kuanxing. The acquisition will be executed from 34 transaction entities, including Wang Shikuan, Xia Xiaojun, and Wuxi Xinju, through a combination of share issuance and cash payment, culminating in a total transaction value of RMB 2.5 billion. Concurrently, the company intends to secure matching funds from a select group of no more than 35 specific investors. Once the transaction is finalized, Piotech will assume direct and indirect ownership of all shares in Wuxi Shangji. It is important to note that this transaction does not qualify as a restructuring listing.
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