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Fuwei Films (FFHL) Stock Continues Rise

NEW YORK (TheStreet) -- Fuwei Films (FFHL - Get Report) continued its rise Wednesday after the company announced Tuesday that a bidder had successfully reached an agreement to acquire 52.9% of the company's outstanding shares at approximately $2.40 a share.

The Weifang State-owned Assets Operation Administration Company, a wholly-owned subsidiary of Weifang State-owned Asset Management and Supervision Committee, is the controlling shareholder in Fuwei Films and had sought to sell the 52.9% share. The press release stated more information on the bidder would come in a separate announcement.

The stock soared more than 35% to a high of $2.24 as of 11:15 a.m. on Wednesday. More than 2 million shares had changed hands, well above its average volume of 61,159.

Must Read: Warren Buffett's 10 Favorite Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. FFHL Chart

FFHL data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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