FIBOCOM Acquires 37.16% Stake in Shenzhen Hangsheng Electronics

FIBOCOM+0.430 (+5.614%) announced that it will acquire a 37.16% equity interest in Shenzhen Hangsheng Electronics for approximately RMB1.428 billion (equivalent to approximately HKD1.64 billion). At the same time, it entered into acting-in-concert agreements with other concert parties and will in aggregate hold 51.4% of Hangsheng Electronics' share capital. Hangsheng Electronics will become its subsidiary, and the financial results of the Hangsheng Electronics Group will be consolidated into the group's consolidated financial statements. (sl/da)(HK stocks quote is delayed for at least 15 mins.)

FIBOCOM (00638.HK) +0.430 (+5.614%) announced that it will acquire a 37.16% equity interest in Shenzhen Hangsheng Electronics for approximately RMB1.428 billion (equivalent to approximately HKD1.64 billion). At the same time, it entered into acting-in-concert agreements with other concert parties and will in aggregate hold 51.4% of Hangsheng Electronics' share capital. Hangsheng Electronics will become its subsidiary, and the financial results of the Hangsheng Electronics Group will be consolidated into the group's consolidated financial statements. (sl/da)(HK stocks quote is delayed for at least 15 mins.)