Tsinghua Unigroup Holdings was traded? Xindi acquired the company for HK$990 million

Recently, Tsinghua Unigroup Holdings issued an announcement that the company was notified by the seller, Tsinghua Unigroup Technology Strategic Investment Co., Ltd. (the company's controlling shareholder), that it had entered into a share purchase agreement with iCatch and Beijing Unigroup Capital after the trading hours on September 17. iCatch agreed to conditionally purchase the sale shares from the seller for a total consideration of HK$990 million.

Tsinghua Unigroup Holdings announced on the 17th that it received a notice from its controlling shareholder, Tsinghua Unigroup Technology Strategic Investment Co., Ltd., that it had entered into a share purchase agreement with Xinding and Beijing Tsinghua Unigroup Capital on the same day, and Xinding (it and Zhongqing Xinxin are referred to as the "Joint Offeror") agreed to conditionally acquire shares from them at a price of HK$990 million (equivalent to approximately HK$1 per share). After the completion of this transaction, the Joint Offeror and its concerted parties (including Shanghai Semiconductor Equipment Materials Fund and Henan Zhanxing Fund) will hold 987 million shares and interests, accounting for approximately 67.82% of the company's total share capital.

According to relevant regulations, after the completion of this transaction, the joint offerors must make an unconditional mandatory cash offer for all issued shares of the company. Currently, Tsinghua Unigroup has issued 1.455 billion shares and convertible bonds with a total principal amount of HK$148 million that can be converted into 370 million shares. Considering the 987 million shares that the joint offerors and their concerted actors already own or agree to acquire, as well as the irrevocable commitments of Chen and others, the shares involved in this offer are approximately 187 million shares.

The announcement stated that the joint offerors intend to acquire the majority interest in the company pursuant to the share purchase agreement and the tender offer. The joint offerors intend to maintain the company's existing main business, namely SMT equipment manufacturing and related businesses, and the joint offerors will assist the company in reviewing its business and financial status to seek opportunities to streamline the company's resources and business structure by disposing of certain businesses other than the existing main business, as well as to expand into other semiconductor-related businesses.

It is reported that Xinding is one of the joint offerors, which was established for investment holding and is wholly owned by Shanghai Qingxin (which is 50.1% owned by Zhongqing Xinxin, 28.0% owned by Shanghai Semiconductor Equipment Materials Fund, and 21.9% owned by Henan Zhanxing Fund).