Luxshare Precision Limited entered into sale and purchase agreement to acquire 74.67371% stake in Time Interconnect Technology Limited (SEHK:1729) from Linkz International Limited and Datatech Investment Inc. for HKD 1.1 billion on February 11, 2022. As per the transaction, Linkz International Limited will sell 1,175,070,000 shares representing 63.58466% stake and Datatech Investment Inc. will sell 204,930,000 shares representing 11.08905% stake in Time Interconnect Technology Limited. The transaction will be financed by internal resources. It is intended that all of the existing Directors will resign from the Board at the earliest time permitted under the Takeovers Code. The transaction is subject to approval by the State Administration for Market Regulation of the PRC. China International Capital Corporation Hong Kong Securities Limited acted as financial advisor to Luxshare Precision Limited. Joey Chau of Kirkland & Ellis acted as legal advisor to CICC.

Luxshare Precision Limited completed the acquisition of sale and purchase agreement to acquire 74.67371% stake in Time Interconnect Technology Limited (SEHK:1729) from Linkz International Limited and Datatech Investment Inc. on March 16, 2022.