Hongze Lake Investment Ltd, a wholly-owned subsidiary of Tencent Holdings Ltd, which operates the most popular online social media platform in mainland China, has agreed to buy 594,034,513 shares of lottery technology company China Rotsynergy Holdings.
In a filing on Thursday, China’s Lotsynergy said Hong Jie-lake would pay 445.5 million Hong Kong dollars (about 57.4 million won) or 0.75 Hong Kong dollars per share, about 11.8% off Monday’s close.
Upon completion, Hongje Lake will own 7% of the expanded equity capital of China’s Lotsynergy. The two companies also agreed to an option for Hongje Lake to subscribe for an additional 273,140,969 new shares at a price of HK$0.83 per share. Once the event goes through, Tencent’s subsidiary will control 9.90% of the shares issued by Lotsynergy in China.
The Hong Kong-listed company is engaged in providing technology and services for lottery systems, terminal equipment, gaming products and their operations in the mainland Chinese lottery market. Its main businesses range from video lottery (VLT), computer-generated ticket games, KENO-type lottery to new media lottery. 무료슬롯사이트
China LotSynergy posted a net profit of HK$54.9 million in the first half of 2014, up 35.2% year-over-year.
Tencent offers Internet and mobile value-added services, e-commerce services, and online services in mainland China and overseas markets. Tencent’s services include QQ and popular WeChat apps, QQ gaming platforms for online gaming, and e-commerce services.
China RatSinnergy said the subscription “has laid a good foundation for future cooperation between the group and Tencent.”
Net proceeds from the transaction will be used as “an investment when ordinary working capital, general corporate purposes and business opportunities arise,” it said in a filing on Thursday.