Zhenmingli acquires Tivoli and increases its holdings in US LED distribution business

In March this year, Tsinghua Tongfang planned to spend 900 million yuan (Hong Kong dollars, the same below) to acquire more than 50% of the shares of Zhenmingli (1868) through a wholly-owned subsidiary. Zhenmingli announced last night that it will allocate 1 billion shares to subscribers, equivalent to 51.6% of the total number of issued shares after the expansion. The subscriber will subscribe for the shares in cash at a price of 0.9 yuan per share. After the subscription is completed, the subscriber and related companies and individuals will hold 52.28% of the shares of Zhenmingli, becoming the latter's largest shareholder.