On Thursday, FXCM Inc (NYSE:FXCM)’s shares declined -5.30% to $1.43.
FXCM Inc (FXCM) declared that Forex Trading, LLC, a partner of FXCM Newco, LLC (“FXCM”) has signed a definitive agreement to sell FXCM Asia Limited (“FXCM Hong Kong”) to Rakuten Securities, Inc. (“Rakuten Sec”), a top 5 FX broker in Japan, and a partner of Rakuten, Inc. (“Rakuten”) (TOKYO:4755), one of the world’s largest Internet services companies, for a total consideration of about $36 million.
Subject to regulatory approval from the Hong Kong Securities and Futures Commission and customary closing conditions, the transaction is predictable to close in Q3. The consideration for the net assets will be finalized on the date of closing.
Rakuten Sec will continue to use the FXCM trading system for FXCM Hong Kong clients under a white label agreement with FXCM and will be notifying clients once the deal is finalized.
FXCM Inc., through its auxiliaries, provides online foreign exchange (FX) trading and related services to retail and institutional customers worldwide. The company operates in two segments, Retail Trading and Institutional Trading. It acts as an agent between retail customers and a collection of global banks and financial institutions by making foreign currency markets for customers trading in foreign exchange spot markets.
Tuniu Corp (NASDAQ:TOUR)’s shares dropped -5.18% to $16.66.
Tuniu Corp (TOUR) declared the appointment of Mr. Haoyu Shen and Ms. Cindy Chen as directors to the Company’s board of directors. The appointment of Mr. Shen and Ms. Chen is in connection with the US$500 million private placement the Company declared on May 8, 2015 and they replace Mr. Thomas Gai Tei Tsao and Mr. Eugene Chehchun Huang, who have resigned from the board.
Mr. Haoyu Shen presently serves as the chief executive officer of JD Mall, the B2C business group of JD.com (JD). Prior to assuming his current role in April 2014, Mr. Shen served as the chief operating officer of JD.com from August 2011 to April 2014, and was in charge of JD.com’s entire supply chain administration and customer service functions. Prior to joining JD.com, Mr. Shen worked at Baidu, Inc., the leading Chinese language internet search provider, where he served as a senior vice president from January 2010 to July 2011 and the vice president of business operations from July 2007 to July 2010. Mr. Shen holds a bachelor’s degree in international finance from the People’s University of China in Beijing and an MBA degree from the University of Iowa. Mr. Shen is a CFA charterholder. Mr. Shen was also designated to serve on the compensation committee of the board.
Tuniu Corporation provides online leisure travel services in China. It offers packaged tours counting organized tours and self-guided tours, and travel-related services for leisure travelers covering various 140 countries, in addition to various popular tourist attractions in China.
At the end of Thursday’s trade, Seventy Seven Energy Inc (NYSE:SSE)‘s shares dipped -5.12% to $5.75.
Seventy Seven Energy Inc (SSE) declared the execution of a definitive agreement to sell Hodges Trucking Company, L.L.C. to a wholly-owned partner of Aveda Transportation and Energy Services Inc. Hodges presently operates and owns about 900 pieces of rig moving and heavy haul equipment, counting about 200 haul trucks, 400 trailers, 70 bed/pole trucks, 35 cranes, 40 forklifts/loaders and 160 service vehicles.
The transaction, which is predictable to close on June 15, 2015, is subject to a number of standard conditions precedents to closing.
Seventy Seven Energy Inc. provides oilfield services in the United States. The company operates in four segments: Drilling, Hydraulic Fracturing, Oilfield Rentals, and Oilfield Trucking.
Celadon Group, Inc. (NYSE:CGI), ended its Thursday’s trading session with -5.09% loss, and closed at $22.74.
Celadon Group, Inc. (CGI) declared that it has reached a contract following which an underwriter has agreed to purchase 3,500,000 shares of the Company’s common stock. The Company has also granted the underwriter a 30-day option to purchase up to an additional 525,000 shares on the same terms and conditions, solely to cover over-allotments. The total gross proceeds of the offering (before underwriter’s discounts and commissions and estimated offering expenses) will be about $80.5 million, without giving effect to the exercise of the option. The Company anticipates to use the net proceeds from the offering to reduce the outstanding borrowing under its revolving line of credit, for offering fees and expenses, and for general corporate purposes.
The offering is subject to customary closing conditions and is predictable to close on or around June 2, 2015.
Celadon Group, Inc., through its auxiliaries, provides transportation services between the United States, Canada, and Mexico. The company operates through two segments, Asset-Based and Asset-Light. The Asset-Based segment provides dry van carrier and rail services.
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