Zhouming Technology announced that it had received formal approval from the China Securities Regulatory Commission, approved the company's issuance of shares to acquire 40% of the remaining shares of Redio and raised matching funds of approximately 215 million yuan at a price of RMB 16.96 per share. After completing the above acquisition, it will launch a non-public offering plan. The raised funds are about 500 million yuan.
The major shareholder and the founder of Radio expressed their confidence in the company's future development with practical actions. The company issued 12.68 million shares to the two founders of Redio to acquire 40% of the remaining shares of Redio (the estimated value of 215 million at the time of the release). Redio is expected to achieve a net profit of 80 million this year, and the acquisition of PE is less than 3. Shareholders subscribed for almost all of the matching proceeds. Through this acquisition, the interests of the management of the company are in full agreement with the listed companies. The major shareholders and the management of the company have expressed their confidence in the future development of the company. .
Big Diadio, Redio is expected to maintain a growth rate of more than 50% in the next two years. The funds raised will be used to fund the construction of “High-end LED Display Technology Upgrade Project†(127 million), “R&D Center Construction Project†(49 million), and “Additional Radio Liquidity†(0.37 billion). In the background of the stage rental screen market will maintain a 30% growth in the next two years, Redeo, the industry's focus star, is expected to maintain a growth rate of more than 50% after receiving the “ammunition†supplement.
The non-public issuance plan is scheduled to start, and the small-size merger and acquisition is expected to fully open the market value imagination space. The company plans to launch a “non-public offering plan†after processing the acquisition of Redio, and raises 500 million in cash for the construction of small-pitch new production lines to expand the company's leading position in this blue ocean field; this September, the company Established an industrial investment company in Qianhai, Shenzhen and hired Mr. Xu Wei, the former witness of Blue Cursor, as the new director of the company. The company's series of actions brought sufficient M&A expectations, which is expected to bring new imagination to the company's valuation. space.
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