Chairman Yue (Justin) Tang Proposes Buyout of X Financial at $6.03 per ADS

what happened

According to TradingView, which cited filings with the SEC, Yue (Justin) Tang reported beneficial ownership of 47.97% of X Financial. On November 6, 2026, he and Mangrove Coast Investment Limited submitted a preliminary proposal to the company's board to acquire the ordinary shares they do not already hold.

The offer is $6.03 in cash per American depositary share, or $1.005 per ordinary share. If completed, the deal could take the company private and remove its ADSs from the New York Stock Exchange. Neither side is obliged to finish the transaction, and final agreements still have to be negotiated and signed. Mangrove plans to fund the purchase with equity from itself and its affiliates, including cash or rolled-over stakes, plus loans from financial institutions.

why it matters

For investors, the key points are the possible delisting and the fact that the proposal is not binding. Tang is also the company's chairman and chief executive, which gives him a central role in any negotiations. Until a signed agreement exists, the offer price is only a reference point.

market impact

X Financial ADS: buyout proposal supports the stock, but no deal is signed yet

• ▲X Financial ADS pressure up — the $6.03 cash proposal gives the shares a reference price, though no deal is binding

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