Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Shivani Kumaresan

Why Are Jiuzi Holdings Shares Surging Today

  • Jiuzi Holdings Inc (NASDAQ:JZXN) subsidiary Hangzhou Jiuyao entered into an equity acquisition agreement to acquire 72.05% equity interest in an automobile sales service shop operator, Huizhou Jiwo Automobile sales service Co Ltd. The financial terms were not disclosed.
  • The equity is acquired from Guangdong Huarui, a subsidiary of China automaker Geely Automobile Holdings Ltd (OTC:GELYY)
  • Under the agreement, Hangzhou Jiuyao will acquire 72.05% equity interest in Huizhou Jiwo Automobile and will make an investment in the registered capital upon completion of the deal.
  • Huizhou Jiwo Automobile is the sole authorized dealer for Geometry EVs in Huizhou city, Guangdong province.
  • Jiuzi held $7.37 million in cash and equivalents as of October 31, 2021.
  • Price Action: JZXN shares are trading higher by 25.9% at $1.66 on the last check Tuesday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.