AKM Meadville acquires a 60% stake in AKM Industrial for HK$1.68 billion

14 January 2022, Hong Kong – Today, AKM Meadville Electronics (Xiamen) Co., Ltd. (“AKM Meadville”) announces that AKM Meadville has entered into a binding agreement with Alpha Luck Industrial Limited (“Alpha Luck”) to acquire AKM Industrial Company Limited (“AKM Industrial”), noting the provision on the ratio of capital contribution is 93.76% and 6.24% respectively, alongside HK$1.79 billion of this acquisition.

AKM Industrial (Stock Code: 01639), a leader in providing high-end technology in Mainland China, was established in the 1993 and focuses on the business of flexible printed circuit, rigid-flex printed circuit board, FPCCOF, and electronics module etc.

The completion of the acquisition will be subject to the fulfilment of a number of conditions, including approval from relevant regulatory authorities in Hong Kong and the approval from the relevant shareholders of AKM Industrial in accordance with the applicable listing rules, completion of due diligence investigation and satisfaction of all conditions precedent. AKM Meadville and Alpha Luck will take up 60 per cent and 40 per cent of share of AKM Industrial equity and control of the company respectively after the acquisition.

AKM Meadville is delighted to take this compelling opportunity to advance its industry position by expanding product lines further and improving the production capacity planning. It also strives to unlock the tremendous potential to deliver exceptional values to its valuable clients across the globe.

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English Version

https://www1.hkexnews.hk/listedco/listconews/sehk/2022/0116/2022011600015.pdf

Chinese Version

https://www1.hkexnews.hk/listedco/listconews/sehk/2022/0116/2022011600016_c.pdf