HomeTop MoversHere is why Planet Green Holdings Corp. (PLAG) stock went up in...

Here is why Planet Green Holdings Corp. (PLAG) stock went up in the after-hours on Thursday?

Planet Green Holdings Corp. (PLAG) shares rose 6.07% in after-hours on Thursday, January 13, 2022, and closed the daily trading at $0.75. However, in the regular trading session, PLAG’s stock lost 10.28%. PLAG shares have fallen 71.83% over the last 12 months, and they have moved down 29.29% in the past week. Over the past three months, the stock has lost 46.43%, while over the past six months, it has declined 51.90%.

Let’s see what are the latest news about the company?


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PLAG Share purchase agreement

On January 13, 2022, Planet Green Holdings Corp. (PLAG) entered into a Share Purchase Agreement with three investors. According to the agreement, the Company will receive gross proceeds of $7,000,000 in the aggregate, in exchange for the issuance of an aggregate of 7,000,000 shares of the Company’s common stock, representing a purchase price of approximately $1.00 per share.

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PLAG acquired Shandong Yunchu

On December 9, 2021, Planet Green Holdings Corp. (PLAG) entered into a Share Exchange Agreement with Shandong Yunchu Supply Chain Co., Ltd. and each shareholder of the company. According to the Share Exchange Agreement, the Company will acquire 100% of outstanding equity interests of the Shandong Yunchu, by issuing 5,900,000 shares of common stock of the Company.

PLAG share exchange agreement

On July 15, 2021, Planet Green Holdings Corp. (PLAG) entered into a Share Exchange Agreement with Anhui Ansheng Petrochemical Equipment Co., Ltd. and each shareholder of the company. According to the Share Exchange Agreement, the Company will acquire 66% of the outstanding equity interests of the Anhui Ansheng.

Anhui Ansheng Petrochemical Equipment Co., Ltd is a company that researches, develops, and manufactures insulation type explosion-proof skid-mounted refueling equipment, LNG cryogenic equipment, and SF double-deck oil storage tank and sells such products in China.

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Conclusion

The recent share purchase agreement was the reason behind its turnaround in the after-hours on Thursday. we hope that it will continue its positive performance on Friday as well.

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