Stock Track | Shandong Hi-Speed Holdings Soars 23.93% Intraday on VNET Stake Sale Announcement

Stock Track05-22 09:31

Shares of Shandong Hi-Speed Holdings (SDHG) surged 23.93% during intraday trading on Friday, following a significant corporate announcement.

The sharp increase comes after the company disclosed it has agreed to sell its entire 38.78% stake in VNET Group, Inc. for approximately USD 942.18 million in cash. The deal implies a price of about USD 1.45 per VNET share, with Shandong Hi-Speed having already received a 30% deposit of USD 282.65 million.

The completion of the transaction is subject to shareholder approval at a special general meeting. Trading in Shandong Hi-Speed shares resumed in the morning session following a temporary halt triggered by the announcement of this major divestment.

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