Masonglory Limited (NASDAQ: MSGY) extended Friday’s sharp rally into after-hours trading, with shares quoted at $10.18 at 5:56 p.m. ET, up 26.08% from the $8.07 regular-session close. MSGY had surged 309.64% during Friday trading after closing Thursday at $1.97.
Masonglory had not disclosed a new company-specific development on Sept. 25. Its most recent SEC filing before Friday’s session, dated Sept. 24, disclosed that Tsz Tun Tse had resigned as chief executive officer and director for personal reasons. The company said the departure was not due to a disagreement with Masonglory, while the board re-designated Jinyu Xie as CEO and named him co-chairman.
From Thursday’s $1.97 close to the $10.18 after-hours quote, MSGY had advanced 416.8%. Friday’s price action was also accompanied by exceptionally heavy turnover, with MarketScreener’s five-day data showing more than 53 million shares traded, compared with 18,213 on Thursday.
Recent Beta Share Swap Used a $3.40 Reference Price
A recent Masonglory share-swap transaction provides additional context for how far the stock has moved. The $10.18 after-hours price was nearly three times the $3.40 per-share reference the company used in August to calculate the share consideration for its agreement to acquire a 20% interest in Beta Beteiligungs und Besitz GmbH.
Masonglory entered the agreement on Aug. 12. Under the transaction, a holder of Beta equity agreed to transfer a 20% interest in the Austrian company to a wholly owned Masonglory subsidiary, while Masonglory agreed to issue 1,377,000 Class A ordinary shares as consideration.
The SEC filing said the consideration-share count was determined using a $23.4 million valuation for 100% of Beta and a $3.40 price for each Masonglory Class A share. That $3.40 figure was derived by reference to MSGY’s $3.43 closing bid price on Aug. 11.
A later Schedule 13D/A stated that Masonglory allotted and issued the 1,377,000 Class A shares on Aug. 12. The Aug. 13 6-K said those shares would constitute restricted securities subject to applicable transfer restrictions.
The filing used $3.40 specifically to calculate the number of consideration shares. It did not describe the figure as an acquisition price for Masonglory, a price target, or a fair-value estimate for MSGY.
Share Consolidation Preceded the Beta Agreement
Separately, Masonglory underwent an eight-for-one share consolidation, reflected in Nasdaq trading beginning Aug. 11, the day before the Beta agreement was signed.
