Brief News: TIME INTERCON spent USD 13 million to acquire a 51% stake in LUXSHARE-ICT
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TIME INTERCON announced the acquisition of a 51% stake in LUXSHARE-ICT's joint venture LEONI Kabel for USD 12.7 million, after which it will hold 100% equity. The company was established in 2024 and focuses on overseas acquisitions, having previously acquired the LEONI LCS Group last year, which primarily engages in the development and sales of automotive cables. TIME INTERCON stated that this acquisition will enhance the management and operational efficiency of its automotive business, supporting continued growth. The company's stock price has nearly quintupled over the past year, opening at HKD 23.04 on Friday
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