Konfoong Materials International Completes Acquisition of 15.6% Stake in Quartz Manufacturer
Konfoong Materials International (SHE:300666) completed the acquisition of a 15.6% stake in Beijing Kaide Quartz, according to a Thursday disclosure on the Shenzhen bourse. The semiconductor components manufacturer acquired the interest for a total consideration of 447.58 million yuan from a group of five major investors. The transaction included a 5% stake purchase by its fully owned subsidiary, Ningbo Yongjin, for 143.1 million yuan, bringing the total investment for the control of the quartz manufacturer to nearly 591 million yuan.
Konfoong Materials International (SHE:300666) completed the acquisition of a 15.6% stake in Beijing Kaide Quartz, according to a Thursday disclosure on the Shenzhen bourse.
The semiconductor components manufacturer acquired the interest for a total consideration of 447.58 million yuan from a group of five major investors.
The transaction included a 5% stake purchase by its fully owned subsidiary, Ningbo Yongjin, for 143.1 million yuan, bringing the total investment for the control of the quartz manufacturer to nearly 591 million yuan.