SFUN - Fang Holdings +13.9% after receiving go-private offer from General Atlantic at 20% premium

Fang Holdings (SFUN) is up 13.9% premarket after announcing it's received a preliminary nonbinding "go-private" proposal from General Atlantic. General Atlantic Singapore Fund and affiliates are proposing to acquire all the outstanding shares and American Depositary Shares it doesn't currently own for $1.468/share, or $14.68/ADS (each ADS represents 10 ordinary shares). That's a premium of about 20% to Friday's ADS close, and about 40% to its 30-day volume-weighted average price. General Atlantic is proposing to finance the deal mainly with equity capital and possibly with debt capital.

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Fang Holdings +13.9% after receiving go-private offer from General Atlantic at 20% premium