Cogo Group Inc. (COGO) announced after the bell Thursday that its founder, CEO and Chairman, Jeffrey Kang, proposed to the Cogo Board of Directors that he purchase a series of operating entities accounting for approximately 30% of Cogo's total assets. The total purchase price is expected to be between $60 million and $82 million.
The company also reported fourth quarter non-GAAP EPS of $0.13, down from $0.24 in the previous year.
Cogo Group gapped up sharply Friday and is currently higher by 1.61 at $3.55 on strong volume. The stock has broken out to a 7-month high.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.