Pansoft Surging 50% after Share Acquisition

Shares of Pansoft

are seeing much strength during Monday's trading session after the company announced an offer from Timesway Group to acquire remains shares of Pansoft. On January 7, 2012 , the Company's Board of Directors received an offer from Chairman Hugh Wang , representing Timesway Group, to acquire all outstanding Pansoft shares that it did not already own at a price of $3.76 per share in a transaction under the British Virgin Islands law that would result in the Company becoming a privately-held company. The company says the transaction is intended to be structured as a merger between Pansoft and a special purpose vehicle company incorporated under the British Virgin Islands law and wholly owned by Timesway. Timesway is represented by Chairman Hugh Wang and had voting power over 64% of the Company's voting securities as of June 30, 2011 . Currently, shares of Pansoft are trading 46% higher at $2.95 per share.