Kuala lumpur: Electronics manufacturer Inari Amertron Bhd emerged as among the most active stocks at early trade following its joint acquisition of equity interest in Lumileds Holding BV for US$239 million (RM1.03 billion). At 10.26 am, the counter lost 10 sen to RM2.03 with a total of 27.49 million shares traded.

According to BERNAMA News Agency, in a filing with Bursa Malaysia on Friday, Inari stated that the group, in collaboration with China’s Sanan Optoelectronics Co Ltd, has jointly acquired 100 per cent equity interest in Lumileds Holding BV and its 11 Asian and European subsidiary companies. The parties involved have entered into a share purchase agreement with Dutch-based Lumileds Subholding BV to facilitate the proposed acquisition.

Meanwhile, RHB Investment Bank Bhd (RHB IB) noted that this acquisition positions Inari to potentially become the preferred outsourced semiconductor assembly and test (OSAT) vendor for Lumileds and Sanan, particularly under the China Plus One strategy. The acquisition opens up long-term business opportunities by leveraging Sanan’s expertise in advanced packaging, silicon carbide, gallium nitride, and light-emitting diode (LED) technologies.

RHB IB reaffirmed a ‘buy’ call on Inari, setting a target price of RM2.45 per share, reflecting confidence in the company’s strategic moves and future prospects.