TD Holdings, Inc. (GLG) Enters into Non-Binding LOI to Acquire Shenzhen Tongdow Internet Technology Co., Ltd.
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TD Holdings, Inc. Enters into Non-Binding Letter of Intent to Acquire Shenzhen Tongdow Internet Technology Co., Ltd.
November 24, 2021 8:00 AM ESTSHENZHEN, China, Nov. 24, 2021 /PRNewswire/ -- TD Holdings, Inc. (Nasdaq: GLG) (the "Company"), a commodities trading service provider in China, today announced that it has entered into a non-binding letter of intent (the "LOI") with Shenzhen Tongdow Internet Technology Co., Ltd. ("STIT"), a China's leading integrated service provider for an online to offline e-commerce commodities trading platform.
Pursuant to the LOI, the Company agreed to acquire between 30% to 65% of the equity interests of STIT in exchange for a certain amount of cash to be determined based on the Company's further due diligence and the parties' negotiation. Both... More
