Forebright Capital, company chairman to take Jinpan private
January 27, 2016
Forebright Capital has partnered with company chairman Zhiyuan Li to take private Jinpan International (NAS: JST), a designer, manufacturer and distributor of cast resin transformers. The parties have entered into an agreement to merge the company with a British Virgin Islands domiciled business held in the Forebright New Opportunities Fund. Under terms of the agreement, current shareholders will receive $6 per share. A similar buyout offer in September priced at $4.50 per share failed to go through.