North Optical-Electric Group Co., Ltd. completed the acquisition of an additional 3.13% stake in North Electro-Optic Co.,Ltd. from North Industries Group Investment Management Company Ltd.
June 29, 2023
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North Optical-Electric Group Co., Ltd. agreed to acquire an additional 3.13% stake in North Electro-Optic Co.,Ltd. (SHSE:600184) from North Industries Group Investment Management Company Ltd. on March 20, 2023. North Optical-Electric Group Co., Ltd. signed the share transfer agreement to acquire an additional 3.13% stake in North Electro-Optic Co.,Ltd. from North Industries Group Investment Management Company Ltd. for approximately CNY 190 million on May 4, 2023. The consideration will be paid in cash. As reported, North Optical-Electric Group Co., Ltd. will acquire 15.9 million shares in North Electro-Optic Co.,Ltd at a price of CNY 12.23 per share, increasing its ownership stake from 20.36% to 23.48%. 30% of the total purchase price amounting to CNY 58.3 million shall be paid as a deposit within 5 working days after the signing of this agreement and the remaining payment with a total amount of CNY 136.1 million, representing 70% of the transfer price should be settled within 5 working days after obtaining the "Shanghai Stock Exchange Listed Company Share Agreement Transfer Confirmation Form". On March 20, 2023, the board of directors of North Optical-Electric Group Co., Ltd reviewed and approved the acquisition plan.
North Optical-Electric Group Co., Ltd. completed the acquisition of an additional 3.13% stake in North Electro-Optic Co.,Ltd. (SHSE:600184) from North Industries Group Investment Management Company Ltd. on June 30, 2023. On June 30, 2023, North Electro-Optic Co.,Ltd received a notice that China Securities Depository and Clearing Company Limited issued “Securities Transfer Registration Confirmation,†that the transfer of North Electro-Optic Co.,Ltd’s shares is completed.
North Electro-Optic Co., Ltd. is a China-based company principally engaged in the research and development, design, manufacture and distribution of optoelectronic defense products. The Company is also engaged in the manufacture and sales of optoelectronic materials and components. Its defense products include large-scale weapon systems, precision guidance seekers and optoelectronic information equipment. Its optoelectronic materials and components include optical materials (including ordinary optical materials, low-melting optical materials, infrared materials, laser materials and glass-ceramics), photoelectric materials, components, jewelry glass materials, special materials and optical accessories. The Company distributes its products within domestic market and to overseas markets.
North Optical-Electric Group Co., Ltd. completed the acquisition of an additional 3.13% stake in North Electro-Optic Co.,Ltd. from North Industries Group Investment Management Company Ltd.
NORTH ELECTRO-OPTIC CO.,LTD. 
