TD Holdings jumps on acquisition of two companies

BAIYU Holdings

16/07/2021 12:09

** Shares of China-based commodities trading service
provider  GLG.O  up 13% at $0.92 before the bell
    ** GLG enters into a non-binding letter of intent with
Guangdong Jinbochuang Special Purpose Vehicle Co Ltd
and(Jinbochuang) and Hunan Jinmeike New Material Co Ltd
(Jinmeike) and their shareholders to acquire both cos
    ** Co aims to step into the unmanned logistics and new
energy vehicle industry through the deal - GLG  urn:newsml:reuters.com:*:nPnbBSyXca
    ** Co agrees to acquire 100% of the equity interests of
Jinbochuang and Jinmeike in exchange for certain amount of
shares of common stock of GLG, to be determined based on the its
due diligence and negotiation
    ** Up to Thursday's close, stock had fallen 48.9% YTD

 (Reporting by Sahil Shaw in Bengaluru)
 ((sahil.shaw@thomsonreuters.com))