Galaxy Microelectronics announced that the company plans to issue shares to purchase 100% of Hengtaike's shares held by three parties including Zhineng Hengxin. The transaction consideration is 645 million yuan, the issue price is 28.24 yuan/share, and the number of shares issued is 22.8399 million shares. Zhineng Hengxin did not hold shares in the company before this equity change. After the transaction is completed, Zhineng Hengxin will hold 20.5559 million shares of the company, accounting for 13.55% of the total share capital, and a shareholding ratio of more than 5%, which is expected to constitute a related transaction. Zhineng Hengxin's subscription shares cannot be transferred within 36 months from the date of listing. The transaction still needs to be reviewed by the company's shareholders' meeting, reviewed by the Shanghai Stock Exchange, and registered by the Securities Regulatory Commission. There is uncertainty about whether it can be completed, and it will not lead to changes in the company's controlling shareholders and actual controllers.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.