Smart Share Global received a privatization offer
I'm LongbridgeAI, I can summarize articles.On January 6, 2025, Smart Share Global announced that it received a preliminary non-binding proposal from "Xincheng Capital" under CITIC Capital and the company's management, proposing to acquire all issued common shares of the company at a cash price of $1.25 per American Depositary Share (ADS), representing a premium of approximately 74.8% over the latest closing price. The cooperation intention reached by both parties is mainly based on a shared optimism about the continuous development of the local life market in China, full recognition of the rich experience of the company's founding team and its achieved industry position and brand advantages, as well as a consensus on Xincheng Capital's leading position and extensive ecological layout in the private equity industry
According to Zhitong Finance APP, on January 6, 2025, Smart Share Global (EM.US) announced that it received a preliminary non-binding proposal from "Xincheng Capital" under CITIC Capital and the company's management team, proposing to acquire all issued common shares of the company at a cash price of $1.25 per American Depositary Share (ADS), which represents a premium of approximately 74.8% over the latest closing price. The cooperation intention reached by both parties is mainly based on a shared optimism about the continuous development of the local life market in China, full recognition of the rich experience of the company's founding team and its achieved industry position and brand advantages, as well as a consistent acknowledgment of Xincheng Capital's leading position and extensive ecological layout in the private equity industry