Yeebo (International Holdings) completed its previously announced transaction, whereby Yeebo, through its wholly owned subsidiary Billion Power Investment, disposed of its 15 percent equity interest in Nantong Jianghai Capacitor, a Shenzhen Stock Exchange-listed company, for a total sale consideration of RMB 2.4 billion (approximately $337 million) (the Disposal).
The Disposal constituted a very substantial disposal for Yeebo under Chapter 14 of the Hong Kong Listing Rules.
Yeebo is principally engaged in the manufacture and sales of liquid crystal displays and related products. The Disposal crystalizes a gain for Yeebo on its equity investment in Nantong Jianghai and enables Yeebo to further develop its business and/or distribute dividends to its shareholders with the net proceeds from the Disposal. Following completion of the Disposal, Yeebo continues to own a 13.81 percent equity interest in Nantong Jianghai.
The S&C team advising Yeebo on this Disposal as to matters of Hong Kong law is led by Kay Ian Ng, and the core team consists of Samantha Li, Bella Wang and trainee solicitor Vanessa Kwang.