Tianzhihang and Jingce Electronic Both Unveil Major Asset Restructuring Plans

Corporate Action
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Tianzhihang and Jingce Electronic separately announced major asset restructuring plans on the evening of July 15. Tianzhihang plans to acquire a controlling stake in Shanghai Minimally Invasive Orthopedics Medical Technology through a share issue and raise supporting funds. Trading in its shares will be suspended from July 16, with a previous closing price of 19.09 yuan and a total market value of 8.904 billion yuan. Jingce Electronic intends to acquire a 41.17 percent stake in Shanghai Jingce Semiconductor Technology through a combination of share issuance, convertible bonds, and cash, along with raising supporting funds. The share issue price is set at 154.38 yuan per share, a 48.04 percent discount to the pre-suspension closing price of 297.10 yuan. Trading in its shares and convertible bonds will resume on July 16, with a total market value of 83.11 billion yuan. Tianzhihang stated that the transaction will help complete its orthopedic product portfolio and accelerate internationalization. The target company is a subsidiary of Minimally Invasive Medical, engaged in joint reconstruction business overseas, with its medial pivot knee products having been implanted in over one million cases globally. Jingce Electronic said the deal will sharpen its focus on the semiconductor sector. Shanghai Jingce Semiconductor specializes in front-end semiconductor inspection and metrology equipment, and will become a wholly owned subsidiary upon completion of the transaction.

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上海微创骨科医疗科技有限公司Private▲ Positive
Capitalrelevance

Tianzhihang plans to acquire controlling stake, completing orthopedic product portfolio and accelerating internationalization

上海精测半导体技术有限公司Private▲ Positive
Capitalrelevance

Jingce Electronic to acquire 41.17% stake, making it wholly owned subsidiary upon completion