Lately, China’s Jiangmen Sugarcane Chemical will issue 120mn private placement of shares to Delixi Group at a price of RMB 6.78/share. Delixi Group will purchase the shares by cash.

Upon completion of the transaction, Sugarcane Chemical will attach more importance to the development of LED and biochemistry industry. Besides, Guangdong Deli Optoelectronics, a wholly-owned subsidiary of Sugarcane Chemical, has started the construction of LED epitaxial wafer project. The contracts for buying the main production equipments have been signed and the down payment for the first group of imported equipments has been made.