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SMG Subsidiaries Pursue Backdoor Listing

Shanghai Stock Exchange, 1/11/11

Chinese electronics manufacturer SVA Information Industry (600637.SH) released plans for a major asset sale and stock purchase today under which Shanghai Media Group's (SMG) subsidiaries will achieve a backdoor listing. The plan has three necessary components:

1. The Shanghai Media Group (SMG) will purchase a 36.6% share of SVA Information Industry for RMB 1.9 bln in cash at a price of RMB 7.67 per share.

2. SVA Information Industry will sell all of its primary and non-primary business assets to its largest shareholder, Shanghai Electronics Development Holdings (Group).

3. SVA Information Industry will wholly acquire SMG subsidiaries BesTV and Shanghai Radio, Film, & TV Production Co., Ltd.

The three items above comprise the non-divisible main body of the company's asset restructuring; should any one of these not receive the necessary approval, the other two items will be rendered void.

Keywords: Shanghai Electronics Development Holdings Shanghai Radio Film & TV Production corporate restructuring Shanghai Media Group television BesTV SVA Information Industry 600637.SH IPO M&A IPTV TV content production

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