Oriental Rise (ORIS) stock jumps premarket after Daguan Tea acquisition LOI
Oriental Rise Holdings shares rose 36.9% to $1.67 in premarket trading after announcing a non-binding letter of intent to acquire a controlling stake in Hubei Daguan Tea Industry Group. The company did not disclose financial terms and said due diligence is pending. The move follows a 1-for-20 reverse stock split effective Dec. 30. Investors await further details on the deal’s terms, financing, and timeline.
