Luxshare Precision Cayman Limited, an entity ultimately owned by Chinese electronics manufacturer Luxshare Precision Industry Co., Ltd., filed a tender offer statement on August 27, 2026 to acquire and take private Seed Co. (TSE Standard: 7743). The offer runs for 30 business days, from August 27 through October 13, 2026, at ¥795 for each common share. Seed's board met on August 26, 2026 and voted to endorse the bid and recommend that shareholders tender their stock.
| Term | Detail |
|---|---|
| Offer price | ¥795 per common share |
| Tender period | Aug 27, 2026 to Oct 13, 2026 (30 business days) |
| Minimum shares sought | 5,408,800 shares (17.89% of voting rights) |
| Maximum shares sought | No cap set |
| Total voting rights outstanding | 302,411 (as of March 31, 2026) |
| Post-deal voting split | Luxshare 49.00% / largest shareholder 51.00% |
Luxshare set a floor but no ceiling. It needs at least 5,408,800 shares to proceed, equal to 17.89 percent of Seed's voting rights once the purchase closes, a ratio calculated against the 302,411 total voting rights Seed reported as of March 31, 2026 in the annual securities report it filed on June 22, 2026. Separately, the filing lists 154,973 voting rights as the amount the buyer is actually targeting, close to the entire float once the largest shareholder's held-back shares and treasury stock are excluded.
The ¥795 offer price carries a stated premium: 47.77 percent above Seed's ¥538 closing price on August 25, 2026, the trading day before the announcement, and above the one-month, three-month and six-month average closing prices by 50.00 percent, 55.58 percent and 48.32 percent respectively. The filing also cites independent valuation ranges bracketing that price: a market-price method of ¥511 to ¥538, a comparable-company method of ¥668 to ¥763, and a discounted cash flow calculation of ¥502 to ¥856.
That holdback is the unusual part of the deal. Once Seed goes private, the filing states, its only two shareholders will be Luxshare's Cayman vehicle and the company's largest shareholder, with voting rights split 49.00 percent to Luxshare and 51.00 percent to that shareholder. Put plainly, the buyer is financing a going-private transaction that leaves the incumbent large shareholder, not itself, holding majority control afterward. That shareholder's stake sits across four trust arrangements: 5,447,910 shares (18.00 percent) with SMBC Trust Bank, 4,319,070 shares (14.27 percent) with Mizuho Trust Bank, and 3,604,920 shares (11.91 percent) with Nomura Trust Bank, all dated August 2011, plus 1,396,500 shares (4.61 percent) with Sumitomo Mitsui Trust Bank, dated July 30, 2014. Those trust-held shares fall under a separate agreement not to tender into the offer.
Luxshare Precision Cayman Limited is itself a holding shell: it is wholly owned by Hong Kong-registered Luxshare Precision Limited, which in turn is wholly owned by Luxshare Precision Industry Co., Ltd., listed on the Shenzhen and Hong Kong exchanges. As of the filing date, none of the three entities held any Seed shares. This is the first version of the filing, meaning any later changes to price or timing would surface as amendments.
Alongside the tender offer, Seed agreed on August 26, 2026 to transfer all shares of its Taiwan subsidiary, SEED CONTACT LENS TAIWAN CO., LTD., to a company in which the largest shareholder holds a majority of voting rights. The tender offer is scheduled to close October 13, 2026.