Dingli Uses Excess IPO Funds to Acquire 3 Companies
National Business Daily, 7/12/10
Chinese wireless network testing equipment vendor Dingli Communications (300050.SZ) divulged in a notice on July 10 its plans for RMB 166 mln of the RMB 957 mln in excess funds raised from its IPO. No more than RMB 80 mln will be used to acquire and increase capitalization of Guangzhou-based wireless network solutions provider Bettercomm; following the investment, Dingli will own 51% of Bettercomm. Dingli will use RMB 5.6 mln to acquire 100% of Guangzhou-based wireless network platform provider SoftBey Technology. RMB 80 mln will be used to acquire the remaining 40% of Beijing Shiyuan Telecom Technology, in which Dingli already holds a 60% share.
Keywords: 300050.SZ Bettercomm SoftBey Shiyuan Telecom IPO wireless Dingli Communications M&A
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