Suning Appliance will subscribe to Laox directional additional

Suning Appliance (002024.　　SZ) announced on the evening of August 16, will subscribe to Japan LAOX Co., Ltd. (hereinafter referred to as LAOX) to its directional issuance of a total of 21.27 million shares, subscription price of about 7.45 yuan/share, the total investment of about 159 million yuan.　　The transaction is expected to be completed in mid-September, after the completion of the transaction, Suning will hold Laox common stock 33.8% shares, is still Laox's largest shareholder.　　Suning Appliance will be involved in the transaction through Granda Magic, a wholly-owned foreign subsidiary.　　The targeted price of about 7.45 yuan/share, not less than Laox held a review of the issue of the Board of Directors of the previous trading day close to about 8.24 yuan 90%.　　Suning last June announced that the investment of 57 million yuan subscription Laox directed additional shares of 66.67 million shares, accounting for Laox Company's total equity 27.36%, become its largest shareholder.　　Suning will nominate two more directors to the LAOX board, with four members on the Laox seven board. Suning today Rose 4.21%, closed at 13.86 yuan/share.