IDG currently own a 19.5 per cent stake in the company, which is headquartered in the US and has manufacturing facilities in China.
The firm descibed its offer, which was made through the IDG-Accel China Growth Fund II, as a “very attractive opportunity” for the company’s shareholders.
It represents a premium of about 130 per cent to the company’s closing price on 9 November 2012, and a premium of 143 per cent to the volume-weighted average price during the last 60 trading days.
IDG said it would finance the deal primarily with equity capital in the form of cash and/or rollover equity in the company.
In an SEC filing it said, “We are confident that we can timely secure adequate financing to consummate the acquisition, and we expect the acquisition would not be subject to any financing condition. “
IDG-Accel China focuses on companies in the information technology, media, healthcare, energy, clean technology and non-technology consumer businesses and services related industries.
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