Lianovation to Raise US$ 137M to Expand Business Operations

Lianovation will be issuing 64.9 million private shares to raise RMB 850 million (US $136.99 million) to expand business operations in infrared (IR) focal plane array chips and other sectors.

The company also has plans of increasing finances in subsidiary Jiangxi Linktrend Cable Tech’s special cable for aerospace applications, establish online to offline (O2O) sales distribution channels, raise cash flow liquidity, and repay bank loans. The company will resume trade on April 21, 2015.

The private stock will be issued to The Abt Associates and Shanghai Kekong Investment Partnership Group (上海磕空团投资合伙企业), the two companies will respectively be acquiring 21.73% and 28.21% shares. Two other investors include Liantronic Chairman Youxuan Deng, who will acquire 42.36% shares, and another investor Liang Zhao will be purchasing 7.7% shares.

The company will be investing RMB 200.15 million in infrared focal plane array chip, an estimated 24 month construction project. Funds raised will mostly be applied in factory construction and equipment purchases. The company will be mass producing IR focal plane array chips after completing related construction.

Remaining funds will be split among special aerospace cable and increasing company capital. Aerospace cable developed by Linktrend Cable Tech, which will receive RMB 50.72 million, while RMB 370 million will go into capital, and the remaining RMB 150 million to repay bank loans.

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