- The stock price of Hollysys Automation (HOLI) increased by 16.51% today. This is why.
The stock price of Hollysys Automation (HOLI) increased by 16.51% today.
Why: According to a Reuters report, a consortium of investors is looking to take the company private. The management team – led by founder and CEO Wang Changli – has won endorsement for the deal from the municipal government of Beijing, which is where the company is based.
With the government’s guidance, this team is working with a Beijing-based state firm for the potential deal.
How much: It is believed that the consortium will be offering $29 per share. So the deal is reportedly going to be valued at $1.8 billion