Ferrotec (Anhui) Technology Development (SHE:301297) plans to acquire Jiangsu Fulehua Semiconductor Technology through the issuance of shares, according to a Thursday disclosure on the Shenzhen Stock Exchange.
The Chinese cleaning equipment manufacturer will issue shares to up to 35 investors, including Shanghai Shenhe Investment.
The proposal is subject to shareholders' approval, the disclosure said.
The company's shares soared 20% in recent trade.
Price (RMB): ¥24.98, Change: ¥+4.2, Percent Change: +19.98%
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