The recent share price of Lexda has fallen below Cree's previous tentative purchase price of 30 yuan per share (NT$, the same below, approximately RMB 6.16). Market expectations are that due to the decline in Lexda's stock price, Cree's actual purchase price may be lower than 30 yuan.
According to industry analysis, Lextar's cooperation with Cree mainly focuses on future layout. Lextar has many years of technology and stable exports in the field of small and medium-power backlight and lighting application LEDs. In addition to Cree's leading technology and industrial status in the field of high-power LED components, it has also developed rapidly in the lighting application market in recent years.
With this strategic cooperation, Lextar will be able to accelerate its development in the field of LED lighting in the future and gain a stable outlet for its upstream chips. Through the cross-licensing of patents from both parties, the research and development results of both parties' technologies and products can be shared in the future to increase each other's competitiveness.
Cree previously tentatively spent a total of US$83 million (approximately RMB 511 million) to acquire 13% of the equity of Lexda at 30 yuan per share. Lexda will approve this private placement at the extraordinary shareholders' meeting today. At that time, it was estimated that the total amount of Cree's investment was approximately NT$2.5 billion (approximately RMB 504 million). However, the recent depreciation of the exchange rate of the New Taiwan dollar and the decline in Lextar's stock price meant that the final price of Cree's shareholding may be fine-tuned. Through this private placement, Cree will become Lextar's second largest shareholder, second only to AUO.
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