Tian Ruixiang (NASDAQ:TIRX) stock is rising higher on Monday after the insurance broker company revealed a share transfer.
Unitrust Holdings Limited has obtained a 61.22% stake in Tian Ruixiang after acquiring shares from Wang Investor Co. Ltd. That saw it obtain 106,500 Class A shares for $10,000 and 250,000 Class B shares for $15,000.
The Class A shares are worth one vote each, and the Class B shares are worth 18 votes each. With these shares, Unitrust Holdings Limited now holds 61.22% of the voting power in Tian Ruixiang.
Zhe Wang is the chairman and CEO of Tian Ruixiang. He’s also the owner of Wang Co. Investors will note that Plenty Holdings Company Limited is the 100% owner of Unitrust Holdings Limited. It also is in control of Wang’s mother, Mufang Gao’s Unitrust voting power.
Gao controls 51% of Plenty Holdings Company Limited and is also the sole director of it and Unitrust Holdings Limited. Wang has no control over Gao’s Plenty shares but is allowed to vote with the Tian Ruixiangshares transferred today.
TIRX Stock Movement Today
With this news comes heavy trading for TIRX stock. This has more than 3.9 million shares changing hands as of this writing. For the record, the company’s daily average trading volume is closer to 51,000 shares.
TIRX stock is up 52.8% as of Monday morning.
Investors seeking out even more of the most recent stock market news will want to keep reading!
InvestorPlace is home to all of the hottest stock market news traders need to know about on Monday! Among that is what has shares of China SXT Pharmaceuticals (NASDAQ:SXTC) stock rising, the biggest pre-market stock movers worth reading about this morning, and more. All of that news is ready to go at the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
