PSTT Deal Fuels China Natural Resources; Unique Fabricating Addresses Trading Uptick
- July 28th, 2023
- 226 views
Shares of China Natural Resources, Inc. (Nasdaq: CHNR) experienced a remarkable surge of over 50% in after-hours trading following the company's announcement of a deal to sell all outstanding shares of Precise Space-Time Technology Limited (PSTT) to Feishang Group Limited.
The sale, which includes PSTT's outstanding payable owed to China Natural Resources, amounts to approximately RMB 95,761,119 in cash (about $13.2 million) with a potential upward post-closing adjustment.
$CHNR was trading at $3.09, showing a gain of $1.13 (+57.65%) in after-hours.
In other news, Unique Fabricating, Inc. (NYSE American: UFAB) has clarified that it has no news to announce at this time that would explain the recent increase in trading activity of its shares of common stock.
$UFAB closed at $0.34 (+60.19%) during regular trading but declined by $0.04 (-10.98%) to $0.30 in after-hours.
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