Friday, 26 April 2024
Credit China to acquire Shenzhen's mobile game company
Credit China Holdings Limited ("Credit China" or the "Company"; together with its subsidiaries, the "Group", stock code: 8207), a leading integrated internet finance service provider in China, announce that the Company has entered into a non-legally binding memorandum of understanding with Shenzhen Qiyuan Tianxia Technonlogy Company Limited ("Qiyuan Tianxia") in relation to a possible investment, whereby the Company may acquire not less than 48.5% of the equity interest in Qiyuan Tianxia, with the consideration to be settled in cash or through the issue of consideration shares in the Company or a combination thereof.
Qiyuan Tianxia is principally engaged in the research and development, operation, and distribution of computer and mobile games and production of media content, the management team of which is comprised of industry-leading professionals with extensive experience. To explore global market, Qiyuan Tianxia acquired the right for mobile game adaptations of the Hollywood movie "The Hunger Games" last year.
Mr. Phang Yew Kiat, vice-chairman and chief executive officer of Credit China, said, "The Group intends to identify and make strategic investments in best-of-breed Internet companies through a newly-established fully-owned investment vehicle. With this investment, the Group will access unexplored internet segments and bring synergistic benefit to expanding our user base, products and services in our online third-party payment platform, and enhancing our Group's profitability."
Re-disseminated by The Asian Banker
