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Why Nam Tai Property Inc. (NTP) stock went down in the after-hours on Tuesday?

NTP Stock

NTP Stock

Nam Tai Property Inc. (NTP) shares declined 13.28% in the after-hours on Tuesday, January 11, 2021, and closed the daily trading at $10.00. However, in the regular trading sessions of Tuesday, NTP’s stock gained 4.63%. NTP shares have risen 62.39% over the last 12 months, and they have moved up 5.88% in the past week. Over the past three months, the stock has lost 53.34%, while over the past six months, it has plunged 48.20%.

Let’s discuss its recent news and developments.

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NTP corporate updates

On January 11, 2022, The Board of Directors of Nam Tai Property Inc. (NTP) provided a series of corporate updates via the below open letter to shareholders.

The NTP’s new Board of members had its first meeting on December 1, 2021, and major decisions were made including,

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NTP Right plan

On December 13, 2021, Nam Tai Property Inc. (NTP) entered into a one-year shareholder rights plan which will expire on December 13, 2022.

The new Board approved the adoption of the Rights Plan to prevent any person from secretly obtaining control of the Company or from obtaining control without providing an acceptable premium to all shareholders. The right plan will allow shareholders to benefit from the recent appointment of a new corporate leadership team, which is working to develop a long-term strategy for improving governance, establishing a credible capital allocation policy, and realizing the intrinsic value of the Company’s assets.

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Conclusion

Well, the company provided a comprehensive corporate update but still, its stock price went down in the after-hours on Tuesday. We hope that it will bounce back in the coming trading sessions.

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