SemiLEDs jumps on stock purchase offer

Semileds

21/08/2019 16:10

** LED chip maker's shares  LEDS.O  up 86% to $4.1, hitting
a 4-month high
    ** Stock set for its best day in over 1 year, 9 months, if
gains hold
    ** On Aug 17, China-based investor Xian Chang Ma offered to
buy https://bit.ly/30lHt5h 680,000 shares of SemiLEDs' common
stock at $3/share 
    ** As of Tuesday's close, Ma's offer price represented a
35.1% premium for LEDS shares  urn:newsml:reuters.com:*:nL4N25G433
    ** Co's board will decide whether to pursue offer on or
before 5:00 p.m. EST Aug. 30
    ** Stock is top percentage gainer across U.S. exchanges
    ** Stock's current price takes YTD gains to 29.6%

 (Reporting by C Nivedita in Bengaluru)
 ((C.Nivedita@thomsonreuters.com; within the U.S. +1 646 223
8780, outside the U.S. +91 80 6749 9246;))