The value of small cap stock for AsiaInfo-Linkage, Inc. (NASDAQ:ASIA) rose during trading on Friday, as the company benefited from news that global equity firms had taken an interest in striking a deal with the firm.
Reuters reported that the company has been the target of a deal that may be worth more than $1 billion, as sources close to the firm outlined how increased interest from global private equity funds had led to several potential offers.
According to the news outlet, the company had received a significant offer in January from China's CITIC Capital, and in March it announced that the interest from firms would lead it to scout for more buyout offers.
Now other firms have come to the table with significant offers, helping to increase the value of the company's stock.
RTTNews reported that the stock had moved within a narrow range in the past week, but the news led to a sharp uptick in interest, as it rose to a one-month high and crossed its 50-day moving average.
Shares of AsiaInfo's stock rose $1.12 to $12.20 at 12:22 p.m. on June 15, an increase of 10.1 percent.