MLS Scales up Investments in Chinese LED Company

MLS announced recently that it will be injecting up to RMB 1.5 billion (US $ 223.97 million) in a Chinese LED company, and has commissioned Allbright Law Office and Ruihua Certified Public Accountants to assist in legal and financial issues.

MLS stated it will invest RMB 500 million to RMB 1.5 billion in a Chinese LED company.

The company halted trade on China’s bourse, due to uncertainties involved in the investment, and to protect investor rights and ensure fairness of investment information disclosed to public. MLS halted trade on the bourse for no more than 10 trading days as of July 15, 2016. During this time frame, the company will announce latest advancements and developments every five trade days, and resume trade once all tasks are completed.

In a separate statement released on the same date, the Chinese LED package manufacturer announced it had partnered up with Zhuhai Harmony Zhuoyue Investment, and invested up to RMB 178.57 million (US $) in the company. MLS investments made up 35.71% of share in Zhuhai Harmony Zhuoyue Investment.  

According to the statement, Zhuhai Harmony Zhuoyue Investment will manage company shares and investments.

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