Lanchang Optoelectronics opened trading on August 12 with another 20 percent daily limit up, marking its third consecutive limit-up session. The stock price reached 32.84 yuan per share, giving it a latest market capitalization of 6.063 billion yuan, with over 530,000 lots queued at the limit-up price. Since August 10, the share price has surged more than 72 percent. On the evening of August 11, the company issued an announcement on abnormal stock trading fluctuations, confirming there are no undisclosed material matters. It also disclosed plans to acquire a controlling stake in Suzhou Lanchuang Technology Company Limited through a combination of share issuance and cash payment, along with a concurrent fundraising. However, the transaction still requires multiple approval procedures and faces risks of suspension, termination, or cancellation. The company had previously suspended trading on July 27 due to planning a major asset restructuring and resumed trading on August 10. According to the announcement, the acquisition of the controlling stake in Lanchuang Technology also includes a private placement to raise funds from no more than 35 specific investors. Currently, auditing and appraisal work has not been completed, and the transaction price for the target assets has not been determined.
Anhui Landun Photoelectron Co LtdPlans to acquire controlling stake in Lanchuang Technology via share issuance and cash, with concurrent fundraising, driving stock limit-ups.
