Hexindai Inc: Rises on deal to divest peer-to-peer business
16/12/2020 14:25
** U.S. listed shares of Chinese social e-commerce platform
HX.O up ~4% at $2.73 premarket
** Stock set to gain for fourth straight session
** HX to divest peer-to-peer business Hexin E-Commerce Co
Ltd to Kuaishangche Automobile Leasing Co Ltd for a for cash
consideration of 5 mln yuan ($765,450.62) urn:newsml:reuters.com:*:nFWN2IW08Q
** CEO of HX says "ongoing challenges and regulatory
constraints" have led co to spinoff
** Up to Tuesday's close, stock fell ~7% YTD
($1 = 6.5321 Chinese yuan renminbi)
(Reporting by Chavi Mehta in Bengaluru)
((Chavi.mehta@thomsonreuters.com))