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Tianmai Technology: Planning to acquire 100% equity of Feneng Automation, expected to constitute a major asset restructuring, suspension of trading starting tomorrow
Mars Finance News: On April 19, it was announced that Tianmai Technology is planning to issue shares and pay cash to acquire 100% equity of Shanghai Fenneng Automation Technology Co., Ltd. and raise supporting funds, which is expected to constitute a major asset restructuring and related-party transaction. Due to uncertainties surrounding the matter, to protect investors’ interests, the company’s stock will be suspended from trading starting at the market open on April 20. The company expects to disclose the transaction plan within no more than 10 trading days, that is, by May 7. (Company Announcement)