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Ourpalm Acquired Playcrab and Shanggame with RMB2.5B

By , First Financial Daily
Updated: 2013-10-16 15:17:32

Late yesterday, Ourpalm announced a major assets restructuring proposal.

According to the proposal, Ourpalm would acquire 100% of equity in Playcrab with RMB1.74B and 70% of equity in Shanggame with RMB814M. The acquisition would be conducted in the form of share offering and cash payment. A total of RMB1,232.74M would be paid in cash, while the remaining RMB1,320.26M would be paid by privately placed shares of Ourpalm at the price of RMB19.83 per share. Meanwhile, Ourpalm proposed to raise RMB851M at a price of no lower than RMB17.84 per share, to pay for the consideration of acquisition.

Playcrab is engaged in R&D and operation of mobile network game. According to the statistics of Enfodesk, Playcrab ranked fifth among mobile network game research & development providers in H1’13, with a market share of 3.8%. Its products include Dazhangmen, Renjiang and other mobile games. Shanggame is a network game developer and operator who owns Three Kingdoms Defense and other game products.

According to the plan of the acquisition of Playcrab, Ourpalm would acquire 10.0% equity held by institutional investor Fen Bo Shi Dai with RMB120M in cash and acquire the equity held by CEO Ye Kai and other executives in the form of equity and cash. According to the plan of the acquisition of Shanggame, Ourpalm would acquire 5% equity held by angel investor Zhu Ye with RMB40.7M in cash and acquire the equity held by CEO Liu Zhijun and other executives in the form of equity and cash.

 

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