Ningbo TIP Rubber Technology (SHA:605255) disclosed the completion of a mandatory tender offer by new controlling shareholder Zhonghao Xinying.
The month-long offer, priced at 23.98 yuan per share for a 25% stake, saw acceptances totaling 201 shares.
Upon completion of the offer, Zhonghao Xinying will directly hold 14,413,801 shares, or a 10.8% stake, in the company.
Shares of the automobile parts manufacturer closed 5% higher Tuesday.
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