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Hi Sun Technology (China) Limited ( (HK:0818) ) has shared an announcement.
Hi Sun Technology (China) Limited has disclosed that Cloopen Group Holding Limited, in which it holds 55,677,341 Class A ordinary shares, has received a preliminary non-binding proposal from a buyer group led by Cloopen’s founder and Trustbridge Partners VII, L.P. to take the company private by acquiring all outstanding ordinary shares and ADSs at a significant premium to recent market prices. Hi Sun has written down the carrying value of its Cloopen stake to zero in recent financial statements and is currently reviewing the proposed going-private deal, which, if it proceeds, could transform the value of this investment and may constitute a notifiable transaction under Hong Kong listing rules, prompting further announcements as required.
The most recent analyst rating on (HK:0818) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Hi Sun Technology (China) Limited stock, see the HK:0818 Stock Forecast page.
More about Hi Sun Technology (China) Limited
Hi Sun Technology (China) Limited is a Bermuda-incorporated company listed in Hong Kong that operates through subsidiaries in the technology sector, with investments that include a stake in U.S.-listed cloud communications provider Cloopen Group Holding Limited.
Average Trading Volume: 3,674,016
Technical Sentiment Signal: Sell
Current Market Cap: HK$1.31B
Learn more about 0818 stock on TipRanks’ Stock Analysis page.