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2007-4-12 08:22:00 a.m. HKT, XFNA
China's Panda Electronics Group undergoes change of control
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BEIJING (XFN-ASIA) - Panda Electronics Group, the controlling shareholder
of Nanjing Panda Electronics Co Ltd (SHA 600775; HK 0553), has undergone a
change of control, with its lead shareholder now Nanjing Electronics Corp,
taking over from China Huarong Asset Management Co, Nanjing Panda said.
According to a statement filed with the Shanghai Stock Exchange by
Nanjing Panda, the newly formed Nanjing Electronics now holds 47.98 pct of
Panda Electronics, after receiving stakes from the city of Nanjing's
State-owned Assets Supervision and Administration Commission (SASAC) and
Jiangsu International Trust Asset Management Co Ltd.
There is no change to China Huarong Asset Management Co's 36.84 pct stake
in Panda Electronics Group, it said.
jianbo.wu@xfn.com xfnjps/xfntm
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