Shares of Genetron rose after the company said it would go private through an acquisition by a group of investors led by Chief Executive Sizhen Wang.
The company’s American Depository Receipts rose 19% to $1.12 in after-hours trading, following a 1.5% decline at Wednesday’s close. Genetron’s ADRs have fallen 16% this year.
The Chinese precision oncology company said the bid, made by a group that includes Wang and CICC Healthcare Investment Fund, valued the company at $126 million.
Holders of Genetron’s depository shares will get $1.36 in cash per ADS. The deal is expected to close in the first quarter of 2024.