BRIEF-Kangni Mechanical & Electrical to acquire electronic component firm for 3.4 bln yuan

March 23 (Reuters) - Nanjing Kangni Mechanical & Electrical

Co Ltd

* Says it plans to acquire electronic component firm for 3.4

billion yuan ($493.68 million) via cash, share issue

* Says it plans to raise up to 1.7 billion yuan in share

private placement to fund acquisition, projects

Source text in Chinese: http://bit.ly/2mXqORG

Further company coverage:

($1 = 6.8870 Chinese yuan renminbi)

(Reporting by Hong Kong newsroom)