Focus Technology (002315.SZ) announced late Tuesday that it planned to buy a majority stake in U.S. Tri Holdings LLC through its British Virgin Islands (BVI) wholly-owned grandson subsidiary Crov Global Holding Limited.
Crov Global would buy 14.4509 million ordinary shares of Tri Holdings for 3.4904 million US dollars, accounting for 93.69 percent stake of Tri Holdings, according to share purchase and subscription agreement between the two parties.
Crov Global would then subscribe 9.404 million ordinary new-issued shares of Tri Holdings for 2.2746 million US dollars upon completion of the above-mentioned share purchase.
Involving a total investment of 5.765 million US dollars, Focus Technology would hold totally 23.855 million ordinary shares, or 96.08 percent stake in Tri Holdings through Crov Global, according to the announcement.
Tri Holdings has an e-commerce platform, the www.doba.com (DOBA), which features drop shipping service that could bring more than 10,000 retailer resources for Focus Technology, analysts say.
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