NBTM shares halted amid asset acquisition plans

Nbtm New Materials Group (SSE: 600114) has halted trading of its shares starting February 25, 2025, as it finalizes plans to acquire 35.75% of Shanghai Fuchi Hi-Tech Co., Ltd. The acquisition will be funded through a combination of stock issuance and cash. Nbtm also intends to raise additional funds through a share placement. Preliminary estimates suggest the deal will not constitute a major asset restructuring, though it is expected to be a related-party transaction. Initial agreements have been signed with certain shareholders, and trading is expected to resume once details are finalized. Shanghai Fuchi's financials show assets of approximately 243.8 million yuan and net assets of 84 million yuan as of September 30, 2024.