Hi Sun updates market on Cloopen privatization deal and potential value uplift
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Hi Sun Technology (China) Limited has updated investors on its stake in Cloopen, which is set to merge with a Cayman Islands consortium. The deal values Cloopen at approximately US$162.89 million, offering significant premiums to previous trading prices. Shareholders will receive US$0.4940 per ordinary share or US$2.9641 per ADS in cash. The transaction is expected to close in Q4 2026, pending approval. Hi Sun's 55,677,341 Class A shares may realize value post-merger, although the board is still reviewing the terms.
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