Leyard Halts Trade Ahead of Two Upcoming Acquisitions

Chinese LED manufacturer Leyard has halted trade on China’s bourse as the company prepares to acquire Mingji Electronic Technology (Beijing) (Mingji) and LEDAVENUE.

Leyard intends to acquire 81% stake in smart building system and software developer, Mingji, for RMB 162 million (US $26.08 million) with its own funds. Companies involved in this transaction include Mingji International Corp. and Mingji Century Technology Development Corp. (literal translation:北京铭基世纪科技发展有限公司).

In the other merger plan, Leyard plans to acquire 55% shares in LEDAVENUE for RMB 27 million, and will be signing the agreement with the latter’s investment partners Primo Lite (BVI), Greddman, and another cooperating company. LEDAVENUE is the professional LED lighting arm of Taiwan-based high power LED and driver manufacturer, Primo Opto.

Leyard's application to suspend trade will become effective as of July 9, 2015, and will be announcing its scheduled trade resume date at a later time.

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