Krypton will be delisted from NYSE. Geely proposes privatization acquisition.

Geely Automobile announced on May 7th that the company submitted a non-binding quotation letter to Krypton, proposing to privatize Krypton and acquire all issued and outstanding Krypton shares and American Depositary Shares (except the beneficial owners of the Group).

The suggested purchase price is $2.57 per krypton share or $25.66 per American depositary share. This price is about 13.6% higher than the closing price of NYSE on the last trading day, and 20.0% higher than the weighted average price of NYSE volume during the last 30 trading days up to the last trading day.

At present, the Group holds approximately 65.7% of the total issued and outstanding share capital. If the privatization proposal is implemented and completed, Krypton will become a wholly-owned subsidiary of Geely Automobile and delist from the NYSE.