Montage Technology (688008.SH) Plans to Divest Entire Stake in XConn

Stock News01-07

Montage Technology Co., Ltd. (688008.SH) has announced that its wholly-owned subsidiary, Montage Cayman, a shareholder in XConn, received a buyout offer from a purchaser intending to acquire all equity of XConn. Following mutual consultations between the purchaser and the target company's board of directors, a "Merger Agreement" was recently signed. After deliberation, the company has consented to the transaction and entered into a "Support Agreement" with the purchaser. Prior to this transaction, Montage Cayman held a fully diluted equity stake of 13.075% in the target company. Upon completion of the deal, Montage Cayman will no longer hold any equity in XConn.

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