Proview International hopes to stave off delisting from the Hong Kong stock exchange and jump-start its moribund operations by acquiring an undisclosed "profitable business", which is also in the electronics industry.
The company is the parent of Proview Technology (Shenzhen), which received a record US$60 million payout from technology giant Apple in June to settle their long and acrimonious dispute over its "iPad" trademarks on the mainland.
In a filing with the Hong Kong stock exchange earlier this month, Proview International chairman Sun Min said the company has engaged merchant bank Yu Ming Investment Management as financial adviser to assist in its efforts to comply with the Listing Rules and resume trading of its shares.
The proposed acquisition, if approved, could breathe new life into Proview International, which went public in June 1997.
Despite the big payout from Apple, the company's debt-mired Shenzhen subsidiary went up for liquidation in October after losing to creditor Fubon Insurance in a case tried in Guangdong province.
Proview International's shares have been suspended from trading at its request since August 2010, as the computer monitor manufacturer scrambled to restructure and sell off its principal assets on the mainland to pay its debts. Its Shenzhen subsidiary filed for bankruptcy later that year.
