- Benchmark analyst Fawne Jiang terminated coverage of IClick Interactive Asia Group Limited (NASDAQ:ICLK) due to a reallocation of resources for the coverage group.
- Investors should no longer rely on the previous rating, target price, or estimates.
- On December 20, IClick received a preliminary non-binding proposal from IClick Chair, CEO, and co-founder Jian Tang owned Igomax Inc, director and co-founder Wing Hong Sammy Hsieh owned Bubinga Holdings Limited, and Huang Jianjun owned Rise Chain Investment Limited.
- The purchase offer was $4.0672 per ADS in cash or $0.81344 per share.
- The Consortium beneficially owns ordinary shares representing 63% of the aggregate voting power of IClick.
- On December 28, IClick’s board of directors approved a share repurchase of up to $5 million from January 1, 2023 – December 31, 2023.
- Price Action: ICLK shares traded lower by 3.46% at $3.95 on the last check Friday.
S&P 500 Down 0.9%; NCR Shares Plummet
U.S. stocks traded lower toward the end of trading, with the Nasdaq Composite dropping more than 1% on Friday.
