Tian Ruixiang Holdings Ltd (TIRX) stock announced the comprehensive strategic cooperation agreement with Anqing Road Transport Administrative Center of Anhui Province today after which the Tian Ruixiang Holdings Ltd (TIRX) happened to be bullish and saw an uptrend of  12.19% to reach $7.18% a share at the time of this writing. TIRX stock was bearish in the previous trading session and dropped by 5.47% at closing. Let’s check out more about TIRX stock.

What’s Happening?

Tian Ruixiang Holdings Ltd, founded in 2010 and based in Beijing, China, is operating as the insurance broker in the People’s Republic of China. The agreement between TIRX and Anqing has been signed on  June 15, 2021, according to which Anqing Road Transport Administrative Center will get the professional risk management services by the Tian Ruixiang.

The Chief executive officer considered this agreement as a win-win situation for both Anqing city and the TIRX stock. The CEO further added that Tian Ruixiang will continue to cooperate with government entities in order to meet the needs of its customers.

Previous Activity by TIRX stock:

On June 08, 2021, TIRX stock did announce the closing of a follow-on public offering the pricing of which was announced previously on June 03, 2021. The offering was intended to sell 4,800,000 units of the TIRX stock at a per-unit purchase price of US$7.50. The initial closing of 2,000,000 units happened on June 02, 2021, between Tian Ruixiang Holdings Ltd (TIRX) and certain institutional investors and the gross proceeds estimated for that closing were $15 million. Each unit consisted of  TIRX’s one Class A ordinary share along with one warrant having an exercise price of $8 per warrant for the purchasing of class A ordinary share of the Tian stock.

Tian Ruixiang is planning to use net proceeds in the establishment of an information data platform and intelligent customer service system. Furthermore, net proceeds from this offering would also be used in the building of key customers department and research and development activities by the TIRX stock. Part of the proceeds would be used for general corporate purposes.

Conclusion:

Tian Ruixiang stock is hot among investors so far due to the announcement of a strategic cooperation agreement with Anqing Road Transport Administrative Center by the TIRX stock. The management is looking forward to expanding its business by seeking further cooperation projects in the future and focused on the improvement of the company’s infrastructure. In a nutshell, investors need to keep an eye on this stock.