Following approval by the China Security Regulatory Commission, Joyson Investment Holding Co., Ltd., Ningbo, China (Abbreviation: Joyson) has incorporated the German automotive supplier Preh into the exchange-listed Liaoyuan Joyson Electronic Corp. (Abbreviation: "Joyson Electronics", stock code: SHA 600699) against transfer of 187 million shares. In parallel, Joyson has acquired the remaining 25.1 % shareholding from the existing co-shareholders Deutsche Beteiligungs AG, and has increased its shareholding in Preh GmbH from 74.9 % to 100 %. After the 100% holding of Preh by Joyson, the present Preh executive board will remain in office unchanged and the Preh company name is being retained.
The approval of this project is the first successful case in the Chinese stock market, by increasing issues of stocks to inject overseas assets to a listed company in China.
