Hollysys quits follow-on plans

Nasdaq_230px
By Gina Lee
18 Apr 2019

Chinese company Hollysys Automation Technologies withdrew its planned follow-on share offering on Wednesday.

The Nasdaq-listed company blamed market conditions for the decision to pull the sale of 7.8m ordinary shares.

Citi was the sole bookrunner on the deal and the proceeds were earmarked for general corporate purpose, as reported previously by GlobalCapital Asia.

Hollysys stock closed at $20.43 on ...

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