Sanan Opto-electronics Co., Ltd. (SHSE: 600703) said that it has been approved by government regulators for subscribing for shares offered by Formosa Epitaxy.
As revealed earlier, wholly owned Xiamen Sanan Optoelectronics Technology Co., Ltd. will spend not more than TWD 2.352 billion independently financed to subscribe for at most 120 million common stocks offered by Formosa Epitaxy. Upon completion, Sanan Opto-electronics will hold a 19.9% stake in Formosa Epitaxy as majority shareholder.
Source:
http://www.sinocast.com/readbeatarticle.do?id=98792
