Ledman to Acquire LED Luminaire Company for RMB 230 M

Chinese LED manufacturer Ledman announced it is planning to acquire a new LED luminaire company as of July 8, 2015.

Ledman announced it would be acquiring 100% shares in a LED luminaire company for RMB 230 million (US $37.04 million). The LED luminaire company is involved in the R&D, manufacturing and sales of LED products.

The company intends to raise funds for the acquisition by privately issuing shares to no more than five investors.

Once the company board completes all related work and finishes its meeting, the company will abide to “Measures for Administration of Material Assets Reorganization of Listed Companies” and other related regulations. The company has continued to suspend trade as of July 9, 2015.

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