iFresh Reports Deal For Purchase Of Xiaotai

Loading...
Loading...

Asian American grocery supermarket chain, iFresh Inc IFMK announced entry into a share exchange agreement for the acquisition of Xiaotai International Investment Inc.

iFresh also entered an agreement to sell its NYM subsidiary for $9.1 million in cash.

Xiaotai International Investment is a “peer-to-peer” lending company based in Hangzhou, China and provides an internet lending information intermediary platform that gives borrowers access to a variety of loan products in China.

iFresh shares spiked up 77 percent to $2.24 on Monday morning, but traded around $1.31 at time of publication.

Posted In: M&ANews
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...