Yintech Investment (YIN) approached by the Buyer Group

  • June 22, 2020


StockYintech Investment Holdings LimitedSymbolYIN
Date Announced06/22/2020Source Press Release
TypeUnsolicited BidAcquiring Company/Person Rollover Shareholders
Date of Confirmation: 08/17/2020Price at Confirmation: $7.18
Potential Profit: 9.62%Annualized Profit: 62.69%

Yintech Investment Holdings Limited (YIN), a leading provider of investment and trading services for individual investors in China, today announced that its board of directors (the “Board”) has received a preliminary non-binding proposal letter, dated June 22, 2020, from Mr. Wenbin Chen, co-founder, Chairman of the Board and Chief Executive Officer of Yintech, Mr. Ming Yan, co-founder and director of Yintech, and Ms. Ningfeng Chen, co-founder and director of Yintech (collectively, the “Buyer Group”), to acquire all of the outstanding ordinary shares of the Company that are not already held by the Buyer Group for a purchase price of US$6.80 per American Depositary Share, or US$0.34 per ordinary share, in cash.

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