Sino-Global to acquire 51% of Shenzhen Jiayoubao, shares drop

Singularity Future Technology

09/12/2020 11:19

** U.S.-listed shares of shipping services company  SINO.O 
down 11.43% at $3.41 premarket
    ** Co enters into a non-binding letter of intent agreement
to acquire 51% of Shenzhen Jiayoubao Mobile Internet Co
 urn:newsml:reuters.com:*:nPn1Q0fVXa
    ** SINO to pay about $1.1 mln worth of shares of its common
stock
    ** Stock up 71.11%, as of last close

 (Reporting by Rithika Krishna)
 ((Rithika.Krishna@thomsonreuters.com;))