Forgame Holdings' (HKG:0484) subsidiary Netcloud (Hong Kong) Technology agreed to acquire 95.0769% of the equity interest in Shenzhen Haihong Microelectronics Technology from Silver Power Enterprise for 22.8 million yuan, a Tuesday filing with the Hong Kong Exchange said.
The target company mainly provides supply chain services and is engaged in wholesale trading and distribution of electronic components. Upon the completion of the transaction, the target company will become a non-wholly owned subsidiary of the company.
The company plans to fund the acquisition through its internal resources.
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