On May 21, Feile Audio (600651) announced a restructuring plan. The company plans to acquire 100% of the equity of the LED lighting engineering company Beijing Shen'an Investment Group Co., Ltd. (hereinafter referred to as Beijing Shen'an Group) through the issuance of shares and cash contributions, and at the same time raise supporting funds. Trading of the company's shares resumed on May 21.
According to the plan, the estimated value of Beijing Shen’an Group’s 100% equity assets is 1.85 billion yuan. This data is compared with a net asset value increase of 386 million yuan of 379.79%. Feile Audio acquired 72.25% of Beijing Shen'an Group's equity held by Shen'an United through the issuance of shares, and acquired 12.75% of Beijing Shen'an Group's equity held by Shen'an United and 15% of Beijing Shen'an Group's equity held by Zhuang Shen'an in cash. The issue price was 6.84 yuan per share, and the number of shares issued was approximately 195 million.
In addition, Feile Audio will also issue shares to Instrument Electronics Group and Xinlian Investment at a price of 6.84 yuan per share, raising supporting funds of no more than 617 million yuan. The total number of shares issued is approximately 90.1559 million shares, of which 88.8559 million shares will be issued to Instrument Electronics Group and 1.3 million shares will be issued to Xinlian Investment.
Information shows that Beijing Shen'an Group is a high-tech enterprise integrating the research and development, production and sales of high-brightness LED lighting products, as well as outdoor lighting, landscape lighting, indoor lighting design and project contracting. It mainly provides customers with three types of LED lighting solutions: outdoor lighting, landscape lighting and indoor lighting.
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