A few days ago, Dehao Runda and Wu Changjiang completed the strategic alliance of private placement. NVC Lighting and Dehao Runda will integrate the LED industry of both parties, which means that in the bleak industry, Dehao Runda paved the way for the LED products of the Wuhu factory.
Dehao Runda takes over
It is clear that Dehao Runda is to become the largest shareholder of NVC Lighting. Dehao Runda announced on the 27th that the company signed an agreement with NVC Inc., one of the major shareholders of NVC Lighting, to acquire 373 million shares of NVC Lighting's common stock, accounting for 3.158 billion common shares of NVC Lighting. 11.81% of the shares, together with 260 million shares, will hold a total of 633 million shares of NVC Lighting, accounting for 20.05% of the total number of issued ordinary shares. Dehao Runda will become the single largest shareholder of NVC Lighting and enter its board of directors.
NVC Inc is a wholly-owned subsidiary of Wu Changjiang. According to public information, NVC has 36 operating centers and 3,000 brand stores nationwide, and has been a domestic leader in commercial lighting.
NVC lighting is not a small name, and Wu Changjiang's life this year is far from the previous scenery. Many media have reported that Wu Changjiang was deeply trapped in the civil strife of NVC, which lasted for 4 months. Finally, Wu Changjiang It was only after the successful return and the stage that the drama was closed. The transaction yesterday was apparently that Wang Donglei of Dehao Runda had Wu Changjiang, who was still "cleaning up the old mountains and rivers."
However, "laking a brother" also comes at a price. It is understood that Dehao Runda is trying to raise funds for the acquisition of NVC Lighting. It plans to issue 230 million shares in non-public offerings. Wu Changjiang subscribes for 130 million shares, and the fixed price is 5.86 yuan/share.
Wuhu LED finds its place
The alliance between Dehao Runda and NVC Lighting is very clear. NVC Lighting is the leading lighting company in China. Dehao Runda will seek in-depth cooperation with its LED lighting products. At present, the domestic LED chip industry faces overcapacity. Such cooperation will bring a good market prospect for Dehao Runda, especially its LED project base invested in Wuhu.
In fact, Dehao Runda has been engaged in the production of small household appliances. At the end of 2009, Dehao Runda planned to invest a total of 3 billion yuan in Wuhu to establish a base for chip production, cutting and other LED production. Coupled with the previous acquisition, Dehao Runda has become a big domestic LED company. Since then, Dehao Runda has been seeking more on the LED. Not only as a production end, it is required to cover all production links, and it is more desirable to extend to the application end.
This expansion from the entire production chain to the entire industry chain is considered to be a decision to resist fluctuations in the LED market. If the success of the acquisition, the LED base in Wuhu will undoubtedly become the beneficiary of this acquisition, because regardless of production and cost advantages, Wuhu base is the backbone of Dehao Runda LED industry.
High buy low sells whether it hurts shareholders
It is worth noting that the transaction price of Dehao Runda's acquisition was HK$2.55/share, which was 8.05% higher than NVC Lighting's pre-Christmas suspension price of HK$2.36. The price of its private placement is 5.86 yuan / share, while Dehao Runda averages the company's stock trading price (6.51 yuan / share) in the 20 trading days before the pricing benchmark date, which is low selling.
Is this high buy and low sell, does it infringe the rights and interests of the original shareholders of Dehao Runda? In fact, as early as 2010, Dehao Runda had issued additional shares, and Wuhu’s Wuhu Economic Development Zone, Longwo Lake Construction and Yuanda Venture Capital spent nearly 1 billion yuan to subscribe for 104 million shares. There is a 21.52% stake in Dehao Runda, which is second only to the largest shareholder of Dehao Runda. Some media interviewed Dehao Runda, its securities department staff said that the company is optimistic about the cooperation with NVC Lighting, and is optimistic about its sales channels, in addition, the fixed price of 5.86 yuan / share, the pricing benchmark 20 trading days before the date 90% of the company's stock trading average price, in line with relevant regulations.
According to another report, Wuhu Economic Development Co., Ltd., the largest state-owned shareholder of Wuhu Runda, is seeking to sell its shares of Dehao Runda.
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
Dehao Runda takes over
It is clear that Dehao Runda is to become the largest shareholder of NVC Lighting. Dehao Runda announced on the 27th that the company signed an agreement with NVC Inc., one of the major shareholders of NVC Lighting, to acquire 373 million shares of NVC Lighting's common stock, accounting for 3.158 billion common shares of NVC Lighting. 11.81% of the shares, together with 260 million shares, will hold a total of 633 million shares of NVC Lighting, accounting for 20.05% of the total number of issued ordinary shares. Dehao Runda will become the single largest shareholder of NVC Lighting and enter its board of directors.
NVC Inc is a wholly-owned subsidiary of Wu Changjiang. According to public information, NVC has 36 operating centers and 3,000 brand stores nationwide, and has been a domestic leader in commercial lighting.
NVC lighting is not a small name, and Wu Changjiang's life this year is far from the previous scenery. Many media have reported that Wu Changjiang was deeply trapped in the civil strife of NVC, which lasted for 4 months. Finally, Wu Changjiang It was only after the successful return and the stage that the drama was closed. The transaction yesterday was apparently that Wang Donglei of Dehao Runda had Wu Changjiang, who was still "cleaning up the old mountains and rivers."
However, "laking a brother" also comes at a price. It is understood that Dehao Runda is trying to raise funds for the acquisition of NVC Lighting. It plans to issue 230 million shares in non-public offerings. Wu Changjiang subscribes for 130 million shares, and the fixed price is 5.86 yuan/share.
Wuhu LED finds its place
The alliance between Dehao Runda and NVC Lighting is very clear. NVC Lighting is the leading lighting company in China. Dehao Runda will seek in-depth cooperation with its LED lighting products. At present, the domestic LED chip industry faces overcapacity. Such cooperation will bring a good market prospect for Dehao Runda, especially its LED project base invested in Wuhu.
In fact, Dehao Runda has been engaged in the production of small household appliances. At the end of 2009, Dehao Runda planned to invest a total of 3 billion yuan in Wuhu to establish a base for chip production, cutting and other LED production. Coupled with the previous acquisition, Dehao Runda has become a big domestic LED company. Since then, Dehao Runda has been seeking more on the LED. Not only as a production end, it is required to cover all production links, and it is more desirable to extend to the application end.
This expansion from the entire production chain to the entire industry chain is considered to be a decision to resist fluctuations in the LED market. If the success of the acquisition, the LED base in Wuhu will undoubtedly become the beneficiary of this acquisition, because regardless of production and cost advantages, Wuhu base is the backbone of Dehao Runda LED industry.
High buy low sells whether it hurts shareholders
It is worth noting that the transaction price of Dehao Runda's acquisition was HK$2.55/share, which was 8.05% higher than NVC Lighting's pre-Christmas suspension price of HK$2.36. The price of its private placement is 5.86 yuan / share, while Dehao Runda averages the company's stock trading price (6.51 yuan / share) in the 20 trading days before the pricing benchmark date, which is low selling.
Is this high buy and low sell, does it infringe the rights and interests of the original shareholders of Dehao Runda? In fact, as early as 2010, Dehao Runda had issued additional shares, and Wuhu’s Wuhu Economic Development Zone, Longwo Lake Construction and Yuanda Venture Capital spent nearly 1 billion yuan to subscribe for 104 million shares. There is a 21.52% stake in Dehao Runda, which is second only to the largest shareholder of Dehao Runda. Some media interviewed Dehao Runda, its securities department staff said that the company is optimistic about the cooperation with NVC Lighting, and is optimistic about its sales channels, in addition, the fixed price of 5.86 yuan / share, the pricing benchmark 20 trading days before the date 90% of the company's stock trading average price, in line with relevant regulations.
According to another report, Wuhu Economic Development Co., Ltd., the largest state-owned shareholder of Wuhu Runda, is seeking to sell its shares of Dehao Runda.
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
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