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IVO reverse merger fell through reorganization of termination caused by three factors - Dragon Optic

By: frbiz man

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ST too light

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Experience after more than a year to wait, ST too light (000 555, closing price 7.91 yuan) of the assets reorganization matters ultimately ended in failure. The company announced on Nov. 7, said the board has passed resolutions, decided to terminate the parties to the restructuring of non-public offering of shares to buy assets.

Thus, although the domestic
LCD panel
ST IVO giant backdoor listing of the issue seems to be too light fell through, but had too Everbright ST external transfer of shareholder equity is still the matter left to the operational space.
To re-termination of the three factors

ST too light last July announced a non-public offering plan, formally announced the establishment of domestic LCD
Panel
Giant leading optical company restructuring side. In accordance with the plans, ST too light will be the Kunshan Economic and Technological Development Zone Assets Operation Co., Ltd. (hereinafter referred to as asset management company) and the InfoVision Optoelectronics Hold-ingsLimited (hereinafter referred to as Dragon Holdings) Issue of shares to purchase their holdings Longteng Optical Co., Ltd. (hereinafter referred to IVO) 100% equity. At that time, the transaction value of the assets estimated as high as 6 billion yuan. If the transaction is completed, it will become the ST too light
BOE
A (000725, closing price of 4.91 yuan) after, A-share market with a second large-size LCD panel production capacity of the listed companies.

The matter before the end of last year have made steady progress smoothly, the company has made the SASAC and the Kunshan City, the approval of the Ministry of Commerce, saw the only hurdle the Commission approved the last one. However
Financial
Crisis economy LCD panel industry volatility and allows the restructuring prospects added many variables: the same with the BOE, IVO huge loss last year in the second half failed to escape from, a sharp decline in performance has become a cause of the most important reason for the reorganization fell through. In the plan of reorganization, IVO in 2008 and 2009 two-year profit forecast net profit of 203 million yuan, respectively, and 446 million yuan, but the reality is that loss of 696 million yuan last year, in the first half loss up to 510 million yuan.

ST too light on November 7, said liquid crystal panel business in view of IVO produce sudden contraction, before the market's profit forecasts by a sudden change has been difficult to be fully realized. IVO plus asset valuation report and the issuance of shares by shareholders to purchase the assets have more than one-year resolution period, so even though the economy and the industry entered the operating conditions IVO Despite the improvement in the second half of this year, but Maintenance shareholders equity point of view, the board decided to end this significant asset restructuring.

Article Source: http://depositarticles.com/

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