Mangrove Coast proposes to acquire X Financial for USD 6.03 per ADS

Bitget2026/11/06 11:12

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Mangrove Coast Investment proposed acquiring X Financial on November 6, 2026, for US$ 6.03 per American Depositary Share in cash.
Each ADS represents six Class A ordinary shares, putting the cash offer at US$ 1.005 per ordinary share.
The offer represents premiums of 28.3% to the last closing price and 25.1% to the 30-trading-day volume-weighted average closing price.
Mangrove holds approximately 93.45% of total voting power; its beneficially owned ADSs and ordinary shares are excluded from the cash consideration.
Financing would combine equity from Mangrove and its affiliates with loans from third-party financial institutions.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. X Financial published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-26-123554), on November 06, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Mangrove Coast proposes to acquire X Financial for USD 6.03 per ADS

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