HK Stock Market Move | TRIGIANT (01300) opens nearly 15% higher, plans to spend RMB 455 million to acquire 100% equity of Qinghai Zhongli Optical Fiber Technology.
Trigiant Group (01300) rose over 14% in morning trading. As of press time, it was up 14.81% at HK$2.325, with a turnover of HK$1.4601 million.
TRIGIANT (01300) rose over 14% in morning trading. As of press time, it was up 14.81% at HK$2.325, with a turnover of HK$1.4601 million.
On the news front, TRIGIANT announced that its subsidiary, Jiangsu Junzhi Technology Co., Ltd., through bidding on the Chongqing Property Exchange Network, acquired 100% equity of Qinghai Zhongli Optical Fiber Technology Co., Ltd. from Qinghai Qingyin Project Management Co., Ltd. for a consideration of RMB 455 million.
The target company is principally engaged in the production and sales of optical fiber preforms, optical fibers, and optical fiber connectors, while its wholly-owned subsidiary (namely the target subsidiary) is principally engaged in the research and development of optical fiber preforms, optical fibers, and optical fiber connectors. Upon completion of the acquisition, the target company and the target subsidiary (Qinghai Optical Communication Materials Engineering Technology Research Center Co., Ltd.) will each become indirect wholly-owned subsidiaries of the company.
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