- Chinese commodities trading service provider TD Holdings Inc GLG inked a non-binding letter of intent with Guangdong Jinbochuang Special Purpose Vehicle Co., Ltd, Hunan Jinmeike New Material Co., Ltd, and their shareholders to acquire both Jinbochuang and Jinmeike.
- The financial terms of the transaction remain undisclosed.
- TD Holdings aimed to step into the automated logistics and new energy vehicle industry via acquisitions.
- TD Holdings expect to incorporate lightweight new materials, applications, and lightweight trucks into its global industry chain.
- TD Holdings held $2.97 million in cash and equivalents as of Sep. 30, 2020.
- Price action: GLG shares traded higher by 13.3% at $0.92 in the premarket session on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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