Fuwei Films Shares Rise 16% After Merger Deal With Baijiayun

Dow Jones2022-07-19

By Stephen Nakrosis

Shares of Fuwei Films Holdings Co. were trading higher Monday following news the company entered a merger deal with Baijiayun Ltd.

Under the terms of the deal, Baijiayun will merge with a wholly-owned subsidiary of Fuwei Films and the issued and outstanding share capital of Baijiayun will be cancelled in exchange for newly issued shares of Fuwei, the company said.

At 1:47 p.m. ET, shares of Fuwei Films were 16% higher at $5.46. Volume at the time topped 446,000 shares, above the stock's 65-day average volume of 9,761 shares.

Baijiayun and its subsidiaries provide video-centric technology solutions. Fuwei Films said it conducts its business through a wholly-owned subsidiary, Fuwei Films Shandong Co., which makes and distributes plastic films.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

$(END)$ Dow Jones Newswires

July 18, 2022 13:59 ET (17:59 GMT)

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6420b595
2022-07-19
6420b595
是百家雲

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