Highway Holdings Shares Surge 67% On Planned Acquisition Of German Precision Manufacturer

(RTTNews) - Highway Holdings Limited (HIHO) stock jumped 67.00 percent, or $0.56, to $1.39 on Tuesday after the company announced it has signed a letter of intent to acquire a controlling stake in German-based Regent-Feinbau Adermann GmbH.

The stock was trading at $1.39, up from a previous close of $0.83 on the New York Stock Exchange. Shares opened at $1.34 and moved within a day's range of $1.23 to $2.21.

Trading volume surged to about 142.66 million shares, far exceeding the average volume of roughly 15,300 shares.

Highway Holdings has traded between $0.77 and $2.21 over the past 52 weeks.