Microcap Movers for Monday November 28, 2011
Below are highlights from Benzinga's daily coverage of microcap securities. Benzinga provides comprehensive, objective, and conflict-free coverage of the microcap sector in real-time at BenzingaSmallCap.com.
Evergreen Energy (NYSE: EEE) the Denver, CO clean coal technology company, rose 119% Monday on 32 times the average daily volume. Today's move comes on top of a 50% move last Friday.
On November 22, Evergreen announced that an unsolicited offer from Stanhill Capital Partners for its K-Fuel process and technology business had been withdrawn and all further discussions regarding such a purchase had been terminated. The offer had been announced on October 4, 2011.
Shares of Evergreen Energy traded Monday in a range of $0.24 to $0.48 and closed at $0.46.
Shares of IFM Investments, aka Century 21 China Real Estate (NYSE: CTC), the exclusive Century 21 Franchisor for China, rose 102% Monday on 13 times the average daily volume, after it was announced that E-House (China) Holdings (NYSE: EJ) would invest $25 million in CTC. E-House (China) Holdings is a real estate services company based in Shanghai.
Under the agreement, Century 21 China Real Estate will issue approximately 960 million new Class A ordinary shares to E-House and the founders of Century 21 China Real Estate at $0.0267 per share, or $0.40 per American depositary share. Each ADS represents 15 ordinary shares of CTC.
Century 21 China Real Estate traded Friday in a range of $0.52 to $0.90 and closed at $0.77.
Shares of Dex One traded Monday in a range of $0.83 to $1.14 and closed at $1.03.
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