India, July 8 -- Onfolio Holdings, Inc. (ONFO) shares rose 3.48 percent to $0.4077, gaining $0.0137 on Wednesday from the previous close of $0.3940, after the company announced a binding letter of intent with Paramount Helium LLC for a strategic combination aimed at expanding into the industrial gas sector.
The stock opened at $0.5367 and traded between $0.4000 and $0.5869 during the session. Trading volume surged to 110.90 million shares, well above its average daily volume of 5.10 million shares.
The proposed transaction includes Paramount Helium's agreement to acquire the senior debt position secured by Proton Green LLC's helium and carbon dioxide assets in North America.
Onfolio shares have traded between $0.2450 and $2.4780 over the...