Nationstar Optoelectronics plans to raise 410 million to increase its main LED business, Guangdong State-owned Assets Supervision and Administration Commission takes over

Nationstar Optoelectronics released a scheduled increase plan on the evening of September 29. The company plans to issue no more than 45 million shares to Guangsheng Company and Guangfa Constant No. 15 at a price of 9.13 yuan per share, raising no more than 410 million yuan, for small-pitch LED and outdoor surface-mounted LED display device expansion projects.

After a closer look at the two institutions that subscribed for shares, Guangsheng Company is a wholly state-owned company and an asset management company established by the Guangdong Provincial People's Government. The Guangdong State-owned Assets Supervision and Administration Commission holds 100% of the company's equity. The entire amount of Guangfa Constant No. 15 was used to invest in the non-public offering of shares of Nationstar Optoelectronics. Established and managed by GF Asset Management, the employees of Nationstar Optoelectronics will self-raise funds of no more than 91.3 million yuan for subscription. The clients of the product may include directors, supervisors and senior managers who have signed contracts with the company.

It is worth noting that this private placement will lead to a change in the actual controller of Nationstar Optoelectronics. It is reported that during the planning and promotion of this non-public issuance, Electronics Group, a wholly-owned subsidiary of Guangsheng Company, plans to acquire 100% of the shares of Sigma held by Sigma shareholders, thereby holding 14.03% of the issuer's shares through Sigma, becoming the issuer's largest indirect shareholder. After the completion of this non-public issuance, Guangsheng Company will directly hold 7.37% of the company's voting shares, and indirectly control 12.70% of the company's voting shares through the Electronics Group, controlling a total of 20.07% of the company's voting shares, becoming the actual controller of the company. This non-public issuance will result in a change in the control of the company. After the private placement, Nationstar Optoelectronics will also become a listing platform under the Guangdong State-owned Assets Supervision and Administration Commission.

While announcing the 2014 non-public stock issuance plan, Nationstar Optoelectronics also announced that the company will also terminate the implementation of the 2013 non-public stock issuance plan. The reason for the termination is "changes in current government policies." According to the 2013 non-public issuance plan announced by the company in September last year, the company plans to raise an additional 630 million yuan to increase the company's semiconductor epitaxial chip project.