So-Young Shares Soar On Takeover Offer

Chinese social community So-Young International Inc SY received a non-binding proposal letter from Chair and CEO Xing Jin to acquire the outstanding shares not owned by Jin and his affiliates for $5.30 per ADS. This price represents a premium of 22.7% to ADSs closing price on November 19, 2021.
Every 13 ADSs represented ten Class A ordinary shares. The purchase price implies $6.89 per Class A share in cash.
The board formed a special committee to evaluate and consider the offer.
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Price Action: SY shares traded higher by 11.1% at $4.8 on the last check Monday.