An unknown buyer agreed to acquire 6% stake in Shanghai Chinafortune Co., Ltd. from Shanghai Feilo Acoustics Co., Ltd for CNY 1 billion.
October 24, 2021
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An unknown buyer agreed to acquire 6% stake in Shanghai Chinafortune Co., Ltd. (SHSE:600621) from Shanghai Feilo Acoustics Co., Ltd (SHSE:600651) for CNY 1 billion on October 25, 2021. Under the terms Shanghai Feilo Acoustics Co., Ltd will sell 63.7 million shares for CNY 16.32 per share.
Shanghai Feilo Acoustics Co., ltd is a China-based company, principally engaged in the manufacture and distribution of lighting equipment. The Company is engaged in the manufacture and sales of light source electrical appliances and lighting products, the sales and engineering service of audio products, and installation works of lighting equipment. The Company's products include High Intensity Discharge (HID) light sources, energy saving products, inductor electronics, traditional lamps, light-emitting diode (LED) products, automotive lighting products and components. The Company is also engaged in contract energy management and the provision of technical services. The Company distributes its products within domestic markets and to overseas markets.