Blue Whale TMT Channel, February 8, Jiuzun Digital Interactive Entertainment and the Offeror Infinities Global Technology Limited Partnership jointly announced that on January 20, the buyer completed the purchase of a total of about 392.6 million shares of the company from the seller, equivalent to about 71.9% of the company's total issued share capital on the date of the joint announcement, for a total consideration of about HK$216 million, equivalent to HK$0.55 per share sold.
According to the announcement, Infinities Global Technology Limited Partnership, indirectly wholly owned by Infinities Technology (Cayman) Holding Limited, was incorporated in mid-2018 as part of the corporate restructuring of Duoniu Technology Group. Duoniu Technology Group was established in 2012 and is principally engaged in technology and media business in China. The main business segments include the sales of console game hardware and related products, media business (including campus social media platforms (Renren) and China Online Game Platform (NGA.cn)), advertising traffic business and online game business. In addition to the offeror, the buyer also included Zhang Tao, Tan Bing, Wu Wenwei, Zhang Qian, etc., all of whom were long-term business acquaintances of Wang Le, the ultimate controller of the offeror. Under the Takeovers Code rules, the Purchaser is required to make an unconditional mandatory cash offer for all issued shares. The Offer Shares are HK$0.55 per share, representing a discount of approximately 27.63% from the closing price of HK$0.76 per share reported on the Stock Exchange on 20 January 2022.
Jiuzun Digital Interactive Entertainment is a mobile Internet pan-entertainment content provider listed on the Main Board of Hong Kong, whose main business includes the research and development and operation of mobile games, and the distribution and marketing of digital media such as electronic magazines, comics, music, etc. According to financial data, the revenue of Jiuzun Digital Interactive Entertainment in 2019, 2020 and the first half of 2021 was 219 million yuan, 170 million yuan and 31.2 million yuan respectively. As of the first half of 2021, the total asset value of Jiuzun Digital Interactive Entertainment was 235 million yuan, and the net asset value attributable to shareholders was 197 million yuan.
Jiuzun Digital Interactive Entertainment resumed trading today, and as of press time, the stock price rose 17.11% to HK$0.89 per share, with a total market capitalization of HK$486 million.