Jumei International Holding Ltd. Announces Completion of Going Private

(Source: Sina)

Jumei International Holding Ltd. (NYSE: JMEI) today announced the completion of its merger with Jumei Investment Holding Ltd., a wholly-owned subsidiary of Super ROI Global Holding Ltd., pursuant to the agreement and plan of the merger dated February 25, 2020 by and among parent, purchaser and the company. As a result of the merger, the company ceased to be a publicly traded company and became a wholly-owned subsidiary of parent.

SEE ALSO: Jumei Youpin Goes Private, To Be Delisted From NYSE by Q2 2020

Super ROI and its wholly owned subsidiary, Jumei Investment Holding Ltd., have accepted for payment all Class A Ordinary Shares (including Class A Ordinary Shares represented by ADSs) that were validly tendered and not validly withdrawn prior to the expiration of the offer at price of $2.00 in cash per Class A Ordinary Share, or $20.00 in cash per ADS, without interest and less $0.05 per ADS cancellation fees and other related fees and withholding taxes, in accordance with the terms and conditions of the offer.

Once a popular cosmetics and luxury shopping platform, Jumei Youpin was listed on the NYSE in 2014 after benefitting from its founder Chen Ou’s online KOL marketing. Its share price rose from $27.25 at the opening to $39.45, with a peak market value of $5.78 billion. Jumei’s stock price has since fallen to $17.43, and has been blighted by counterfeit product scandals.