In the last trading session, the stock price of Jumei International Holding Ltd (NYSE:JMEI) gained more than 2% to close the day at $3.04. The gains came at a share volume of 1.12 million compared to average share volume of 1.97 million.
More recently, Jumei International reported that the special committee of the firm’s board obtained a letter dated November 27, 2017 from Leo Ou Chen, Founder, and CEO of the firm, Yusen Dai, the “Buyer Group”, mentioning that the Buyer Group would remove its previous non-binding going private plan dated February 17, 2016, effective immediately.
Jumei is China’s leading web retailer of beauty products. Its internet platform is a popular destination for customers to purchase and discover branded beauty products, children, maternity and baby products, health supplements, light luxury products and other products via the firm’s jumei.com and jumeiglobal.com mobile application and websites.
Using its deep understanding of consumer needs and preferences, and its strong merchandizing capabilities, Jumei International has adopted numerous effective sales formats to support product purchases on its platform, counting online shopping mall, flash sales and curated sales.
In unrelated news, Jumei International reported that it will plan its AGM of shareholders on December 25, 2017. No proposal will be given to shareholders for any approval at the meeting. Instead, the AGM will be an open forum for holders and shareholders of the firm’s American depositary shares to discuss firm affairs with management.
The Board has finalized the close of business on December 11, 2017 as the record date for determining the shareholders eligible to get notice of the AGM or any postponement or adjournment thereof. Holders of record of the firm’s Class B or Class A ordinary shares, par value $0.00025 a share, on the Record Date are eligible to attend the Annual General Meeting and any postponement or adjournment thereof in person.