Cogo sells 30% of assets to founder

|By:, SA News Editor

Cogo's (COGO +6%) Audit Committee has signed an agreement to sell 30.4% of the company's assets to founder and CEO Jeffrey Kang for $80M. The transaction is expected to close before the end of the year.

The pieces in question generated 98.7% of Q1 revenue. The market appears skeptical, with the stock trading at a market cap of ~64M.

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