As of noon Friday, Os International's share price rose 41.59% to 0.16 yuan, with a trading volume of 183.6 million shares.
The proposal would allow shareholders to cash in on investments at a premium without paying brokerage fees, they said. In addition, this brings opportunities to shareholders who cannot delist because of low trading flow.
The three brothers Wu Zhenhua, CEO Wu Zhenfa, and non-executive director Wu Zhenlai proposed unconditional proposals to privatize OSS International with cash of RMB 0.16 per share. After the news was released, the company's stock price rose by more than 40% on Friday (May 16).
Os International's business focuses on retail and wholesale of sports goods. The contributor pointed out that tariffs and geopolitical tensions have led to instability in the economic environment, which poses challenges to the company's operations in Singapore and overseas.
The three brothers hold a total of 84.79% of the shares in this main board listed company.
The three brothers made the above proposal on Thursday (15th). Their offer is about 41.6% higher than the final transaction price on May 9. The company requested a suspension of trading on Tuesday (13th), with the stock price of 0.113 yuan before the suspension.