Newly Listed Fortune 500 Company Acquires Pantum Shares

Newly Listed Fortune 500 Company Acquires Pantum Shares

On July 27, 2020, Fortune China revealed Ninestar as one of the top 500 companies in China.

The 2020 Fortune China Top 500 company ranking is based on comparisons of revenues and development achievements during 2019. It examines all the largest listed Chinese companies across the world.

Ninestar has been ranked 392 in the 2020 Fortune China Top 500 company list with a revenue of RMB 23.2959 billion (US$ 3.33 billion).

Pantum Shares Acquired

This comes hot on the heels of the news that China-based Ninestar announced on July 21 it will acquire all of the Pantum shares as part of a major restructure for the publicly listed company.

According to the information posted on China Listed company website cninf.com.cn,  Ninestar is planning to acquire all Pantum shares from shareholders of Zhuhai Pantum Electronics Co. Ltd by means of issuing stocks as well as cash. At the same time, it will also raise matching funds. “The transaction is expected to constitute a major asset restructuring of the listed company.”

Due to some uncertainties with issues related to the transaction, Ninestar applied to have trading on its shares suspended at the Shenzhen Stock Exchange to protect investors’ benefits and to avoid any negative impact to its stock price. The suspension commenced on July 22, 2020, and was expected to last no more than five trading days.

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• Ninestar Plans to Invest US$1.4 billion on High-Tech Laser Printer Factory
• Ninestar Thanks Employees as it Celebrates 20 Years

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