LED enterprise Dongshan precision sea treasure hunt to 4 billion acquisition MFLX

Dongshan precision February 22nd evening issued a non-public offering plan, the company intends to not less than 15.93 yuan / share issue price is not more than 282 million shares, the total funds raised not more than 4 billion 500 million yuan for the acquisition of NASDAQ listed companies in the United States MFLX 100% stake in the company, as well as to supplement working capital. Dongshan precision stock on February 23rd opening date for resumption of trading.

Dongshan precision of the non-public offering of shares is a major bright spot for the acquisition of the u.s.. According to the plan, Dongshan precision will be through a wholly owned subsidiary of Hongkong Dongshan, the establishment of a wholly owned subsidiary of DragonElectronixHoldingsInc. in Delaware investments ("U.S. Holdings"), and through the United States holding company set up a wholly owned subsidiary of Dragon Electronix Merger SubInc. in Delaware investment (i.e. consolidated subsidiaries). Consolidated subsidiaries and MFLX will be fully satisfied with the delivery conditions after the merger of the company in accordance with the relevant laws of delaware. MFLX will be merged as a surviving company, and become a wholly owned subsidiary of Dongshan precision. After the merger is completed, MFLX's common stock will be delisted from nasdaq.

According to the merger agreement, the merger of MFLX per share price of $23.95, compared with last year the company stock price of $19.59 / share premium of 22%, the total price of the transaction is expected to be approximately $610 million (about 3 billion 984 million yuan). Dongshan precision intends to invest 3 billion 984 million of the amount raised for the acquisition, but due to raise funds in place in time and the actual payment of the acquisition of funds is not the same time, the company intends to raise funds through self financing.

It is understood that the MFLX company is mainly engaged in the flexible circuit board (FPC) and a flexible circuit assembly (FPCA) design, production and sales, is committed to providing customers with mobile electronic devices can meet the overall design requirements of the complex solution. The company was founded in October 1984 in the United States, California, in the state of Delaware in 2004 and re listed on nasdaq.

MFLX company is headquartered in the United States, the main production base is located in Suzhou, China, sales and customer service center in Singapore, and in South Korea and other countries have a sales team. MFLX company is mainly engaged in the flexible circuit board (FPC) and a flexible circuit assembly (FPCA) design, production and sales, is committed to providing customers with mobile electronic devices can meet the overall design requirements of the complex solution. MFLX company is one of the major global suppliers, flexible circuit board and flexible circuit assembly is the largest MFLX company in 2014, ranked twenty-seventh with $630 million in the global PCB manufacturers, professional FPC manufacturers ranked fifth, in a leading position in the global FPC manufacturing field.

MFLX's revenue comes mainly from the mobile market, the terminal products, including smart phones, tablet PCs and home electronics. The last two years, the smart phone market revenue accounted for MFLX of the company's operating income ratio remained at around 70%, is the main source of revenue. As a new growth point, MFLX from 2015 began to expand the field of wearable devices and auto parts.

Financial data show that MFLX 2015 operating income of $637 million, net profit of $45 million 82 thousand.

In recent years, smart phones, tablet PCs and other mobile electronic devices led by the rapid growth of consumer electronics market, which greatly promoted the development of the FPC market as its main connection accessories.

Dongshan precision main business covers precision metal manufacturing and precision electronic manufacturing in two areas, including precision electronic manufacturing business services mainly in consumer electronics, LED lighting industry, the main products include LED devices, touch panel and LCM module, wherein the touch panel and LCM module is mainly used in the field of consumer electronics, intelligent mobile phone and tablet computer.

According to the announcement said, according to the relevant laws and regulations, the acquisition of stock trading on the NASDAQ listed MFLX100% shares still need to obtain the necessary filing or approval before implementation, including but not limited to the United States antitrust review committee, the United States, the U.S. Foreign Investment Commission and other foreign regulatory agencies reporting and auditing, and the national development and Reform Commission, Chinese the Ministry of Commerce, the Jiangsu Provincial Department of Commerce, foreign exchange management department in charge of the acquisition of the filing or approval.

Although the company, the shareholders' meeting of the company in accordance with the procedures set by the MFLX. However, the filing or approval matters are the preconditions for the implementation of this asset acquisition, the ability to obtain the relevant filing or approval, and ultimately the record or approval of the time there is uncertainty. Therefore, this major asset purchase can be successfully implemented in the final uncertainty. If the acquisition is not approved, the acquisition may be suspended, suspended or canceled.

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