Empyrean Technology to Dissolve Zhongwan Xinsheng Partnership

MT Newswires Live10-14

Empyrean Technology (SHE:301269) will dissolve and liquidate its related-party partnership, Zhongwan Xinsheng, following a merger between Shanghai Silicon Technology and Yake Hongyu.

The partnership holds about 7.78% of Shanghai Silicon Technology, according to a Shenzhen bourse aftermarket filing on Tuesday. Zhongwan Xinsheng will use those shares for a non-monetary capital increase in Yake Hongyu, then dissolve Zhongwan Xinsheng.

Empyrean Technology, holding 90.9008% of the 110.0 million-yuan capital of Zhongwan Xinsheng, will receive 90.91% of cash assets and Yake Hongyu equity.

Shares of the electronic design automation software company were down 2% in recent trade.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment