Frbiz.com Reports Ivo To Suspend Listing
Not surprisingly, the release of a controlling interest may be vulnerable to the
main company in Kunshan Development Zone, ST too light to develop the asset restructuring program last year, then "died a natural death."ST Tai-kwong, today disclosed that the company decided to terminate the Company and the Kunshan Development Zone InfoVision Optoelectronics Holdings Limited (Dragon Holdings) non-public offering of shares to purchase their combined holdings of 100% stake to IVO.
According to the company, the termination of this reorganization of assets primarily for three reasons. First of all, because of the global financial crisis caused by sudden consumer spending is shrinking, proposed injection of assets of IVO in 2008 and 2009 operating results of the first half of large-scale losses, which in 2008 a net loss of 696 million yuan. 1 to 6 Yuefen this year compared to a net loss of 510 million yuan. IVO assets evaluation report and the company's shareholders to purchase the assets through the issuance of the directional resolution have been valid, but also ST too light to give up two aspects of this restructuring of factors.
However, this restructuring does not mean the termination of IVO's listing plan has been abandoned. It is noteworthy that, on the ST too light to declare the termination prior to this restructuring, the company is the actual controller of Hubei NIVS Investment Co., Ltd. has proposed to its decision last month to hold Shin Chang Science and Technology (ST too light controlling shareholder) All shares transferred to the company in Kunshan Development Zone, due to Shenchang technology holds 21.95% stake in ST is too light, which means that if the successful completion of the transactions, Kunshan Development Zone will become the new ST is too light, the actual controller.
For these transactions, a long-term focus the analysis of this restructuring have told reporters that if the program directly under the original backdoor is bound to IVO's short-term performance and so demanding, it re-approved or not is of great a large uncertainty, Kunshan Development Zone, the company clocked through technology controlling Shenchang indirectly entered the ST too light, the backdoor IVO will calm a number of matters relating to the operation
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