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SHENZHEN XINGLIANXIN LIGHT SOURCE CO.,LTD
SHENZHEN XINGLIANXIN LIGHT SOURCE CO.,LTD  

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SHENZHEN XINGLIANXIN LIGHT SOURCE CO.,LTD [China (Mainland)]


Business Type:Manufacturer, Trading Company
City: Shenzhen
Province/State: Guangdong
Country/Region: China (Mainland)

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China Sanan to Join Shares of Taiwanese Formosa Epitaxy
Taiwanese LED chip supplier Formosa Epitaxy Inc has announced to intend to issue as many as 120 million new shares at NT$19.6 per share to China's Sanan Optoelectronics Co.by a private placement.

Through the NT$2.35 billion (US$80.8 million) deal, Sanan Optoelectronics will acquire 19.9 percent of Formosa Epitaxy via its 100-percent owned Xiamen subsidiary and will become the firm's largest shareholder, ahead of Japan's Mitsui & Co, which holds 15 percent.

According to Formosa Epitaxy said in a filing to the Taiwan Stock Exchange, the two sides will formally sign a share subscription agreement, to take effect after gaining approval from their respective shareholders. The transaction is still subject to regulatory approval. The firm is scheduled to hold a special shareholders’ meeting on Jan. 3 to seek approval for the sale.

Formosa Epitaxy said the new capital from Sanan Optoelectronics, which is primarily engaged in full-color high-brightness LED wafer and chip manufacturing, would help strengthen its financial position, expand its business scale and enhance its competitiveness.
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