Hong Kong 5/23/17—The controlling shareholder and president of lab instrument distributor and manufacturer Techcomp, Lo Yat Keung, has signed a memorandum of understanding with an independent third-party regarding the possible sale of his 41% share in the company. Techcomp is listed on the Hong Kong Stock Exchange. According to the company’s regulatory announcement, the sale might involve a company reorganization or disposal of certain assets. Mr. Keung may not discuss a sale with any other third party for 90 days, and the memo is non-binding.

Techcomp is thinly traded and, with its presence in China, may be an attractive acquisition target. As well as serving as a distributor of analytical instrumentation, Techcomp also manufactures chromatography, atomic spectroscopy and molecular spectroscopy products. Techcomp’s sales in China, including Hong Kong and Macau, accounted for 74% of revenues in 2016. That year, company sales grew 6.5% to $183.0 million (see IBO 3/31/17).