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Robam Appliances to Acquire 60% Stake in Smart Hygrometer Firm iTronics with Parent
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Robam Appliances, a Chinese kitchen appliance manufacturer listed on the Shenzhen Stock Exchange, has announced plans to acquire a 60% stake in iTronics Holding Limited for USD 175 million. The target company is engaged in the research, development, design, and sales of smart temperature and humidity monitors. The acquisition will be carried out jointly with its controlling shareholder, Robam Group, using their own funds. Upon completion, Robam Appliances will indirectly control 60% of the voting rights in iTronics through direct control of Hainan Robam, a subsidiary. The news was reported by Cailian Press and published on East Money's A-share companies channel. The stock was trading at CNY 16.39, up 1.74%, with a market capitalization of CNY 15.5 billion.
Source report
Latest Price: 16.39 Change in Price: +0.28 Percentage Change: +1.74% Trading Volume: 65,500 lots Turnover: CNY 106 million Turnover Rate: 0.70% P/E Ratio: 13.39 Market Capitalization: CNY 15.5 billion
Robam Appliances has acquired a 60% stake in iTronics Holding Limited for USD 175 million. The target company specializes in the research, development, design, and sales of smart temperature and humidity monitors.
Robam plans to jointly acquire the 60% stake with its controlling shareholder, Robam Group, using their own funds. Upon completion of the acquisition, Robam will indirectly control 60% of the voting rights in the target company through direct control of Hainan Robam.
Source: Cailian Press
Source
东方财富网-A股公司Eastern