RTTNews | Nov 22, 2021 08:16AM EST

08:15 Monday, November 22, 2021 (RTTNews.com) - So-Young International Inc. (SY), an online platform providing medical aesthetic information in China, on Monday, said it received a preliminary non-binding proposal from Xing Jin, Co-founder, Chairman of the Board, and CEO of the company, to acquire all of the outstanding Class A ordinary shares of the firm that are not already owned by him and his affiliates for a purchase price of $5.30 per American Depositary Share, with every 13 ADSs representing 10 Class A ordinary shares, or $6.89 per Class A ordinary share, in cash. The Board has formed a special committee consisting of independent directors and is expected to consider the proposal and proposed transaction, the company said.

"There can be no assurance that the buyer group will make any definitive offer to the company, that any definitive agreement relating to the proposal letter will be entered into between the company and the buyer group, or that the proposed transaction or any other similar transaction will be approved or consummated," the Chinese company said in a statement.

Read the original article on RTTNews ( https://www.rttnews.com/3244048/so-young-gets-prelim-non-binding-proposal-from-xing-jin.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved