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HC SemiTek 1.08 Billion Acquisition Of Aquamarine Agreed To Extend To The Main Industry Or Consumer Electronics

Jan 16, 2017

 HC SemiTek (300,323) General Meeting of Shareholders held on the afternoon of the 28th, the company will be increased through acquisitions and supporting fund-raising program. Under the program, producers aquamarine sapphire substrate technology will become a wholly owned subsidiary of the listed company, HC SemiTek main industry will also extend to the upstream sapphire LED stadium lights chip industry. In addition, the judgment based on the future market, the company also intends to reach out to the consumer electronics field. backpfrontp Under the acquisition plan, HC SemiTek proposed by the issue of shares and cash, the price of 1.08 billion yuan to acquire 100% stake in aquamarine Technology. Among them,led stadium lighting a total of 9342 million additional shares (issue price of 9.91 yuan / share), totaling 154 million yuan cash. In addition, HC SemiTek also intends tiger platinum and new energy company executives Zhoufu Yun, Ye Aimin, Yangzhong Dong et al., 6726 total issuance of shares (issuance price of 8.92 yuan / share), fund-raising not more than 600 million yuan,high power led flood light for the payment of the cash transaction price and the aquamarine of science and technology projects, and supplement working capital. backpfrontp According to reports, aquamarine technology independent control of Bridgman technology that has the ability to provide to meet the requirements of the prior art 2-4 inch sapphire substrate,1000W LED flood light and the successful development of six inches of the ingot, and will soon be put into mass production . Among them, the company's main product 4 inches Product yield over 85%. backpfrontp Currently, HC SemiTek is the second largest manufacturer of LED epitaxial wafers. After the completion of three projects in Suzhou, the company added four inches annually LED tunnel light epitaxial wafers 656,000, which would effectively digest aquamarine sapphire substrate production technology. backpfrontp HC SemiTek Director, Vice President, Deputy General Manager Ye Aimin said that after the completion of this transaction, HC SemiTek main business to expand from the LED high bay light chip manufacturing sapphire crystal growth and sapphire substrates upstream production, to achieve the upstream and downstream linkage synergies. backpfrontp In fact, after the acquisition of aquamarine science and technology, in addition to having a sapphire substrate production capacity outside the HC SemiTek will have the foundation and capabilities to consumer electronics applications expand. The company said, if future outbreaks demand,led arena light the company will be able to rapidly expand into new business areas and profit sources. backpfrontp raise investment projects from the point of view, put into production, aquamarine technology will achieve 12 million sapphire substrate (equivalent to 2 inches) and 500 000 annual production capacity of sapphire window material. The former is mainly used in the production of LED tennis court lights chips, which are mainly used in consumer electronics products, the Home button and the camera; both proposed to use funds raised 324 million yuan in total. It is worth mentioning that the HC SemiTek 25 daily closing 5.99 yuan / share, with the price set by this upside down by a big margin. In this regard, Ye Aimin said the transaction parties will strive to make this set by the Acquisition and smoothly, and try to carry out within the scope of the original agreement,led gym lights it may be appropriate adjustments if necessary. backp