Lingyi iTech plans convertible bonds, asset purchase

Lingyi iTech (SZSE:002600) plans to issue convertible bonds and make a cash payment to acquire a 66.46% stake in Jiangsu Keda Stern Automotive Technology. The total consideration is valued at CNY332.30 million. Additionally, Lingyi iTech intends to raise supporting funds via a share placement to no more than 35 specific investors, with proceeds channeled towards replenishing Jiangsu Keda's working capital and covering the cash component of the acquisition, capped at CNY207.39 million. The move aims to broaden Lingyi iTech's product matrix and strengthen its position in the automotive industry, particularly in automotive components and new energy vehicle parts. Guotai Junan Securities acts as the independent financial advisor for the transaction.