Under the agreement, China International Development has secured a three-month period of exclusivity during which it can review Lonten Semiconductor’s financial and operational records.
IndexBox recapped the numbers, noting that the deal, if completed, could be valued between HK$4.5-9 billion (around US$1.16 billion).
According to RTT News, Lonten’s largest shareholder and chairman, who holds roughly 24.8% of the firm, has signed the agreement.
China International Development told Reuters that the acquisition reflects its ambition to broaden beyond leather goods and auto interests into China’s semiconductor industry.
The proposed takeover marks a striking pivot for a company traditionally known for leather products, highlighting growing interest in semiconductors among businesses outside the tech sector as China pushes to strengthen its domestic chip industry.
