Jingwei International Ltd. (JNGW) noted Friday receiving a proposal from its Chairman George, or Jianguo, Du which aims to make the company a private entity solely owned by Du. The company's Board has appointed a special committee to evaluate the offer with the assistance of financial advisors.
Du, whose holding in the company amounts to 41.1 percent, intends to request the Board for a reverse stock split at a 1-for-50,000 ratio, after which fractional shares may be canceled following a payment of $1.56 per share. Such a purchase may be funded through Du's personal funds, the company added. No timeline was announced for the Board's review of the proposal.
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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.