Lianovation Halts Trade on Chinese Bourse

Taiwanese LED company Lianovation announced last Friday it will be halting trade on the Chinese bourse as of Monday this week, due to uncertainties in a recent acquisition caused by changes in the capital market, management environment, and company restructure.

According to the statement, the company will be hosting a new board meeting to review the asset restructure proposal.

The company will resume trade on the bourse after an investor meeting.

Liantronics announced its asset restructure in June 2016, which involved investing RMB 468 million (US $70.17 million) to acquire a 65% stake in Nanjing Hanen Digital Internet Culture, a Chinese company specializing in VR and other digital media.

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