Ourpalm Acquired Playcrab and Shanggame with RMB2.5B
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.
- Related News
- 2014-11-21Chinese Internet Enterprises Embrace a New Listing Boom in US in 2014; Losses …
- 2014-11-19Hong Kong Startup GoGoVan Gains US$10M Investment from Renren
- 2014-11-19Yu Minhong’s Second Startup: Hong Tai Fund Raises RMB200M from Tens of LPs
- 2014-11-19Douguo Completes Series C Financing of US$25M from Hillhouse Capital and Cryst…
- 2014-11-19Alibaba Buys RMB1.5B Stake in Huayi Brothers
Popular in 24 Hours
- China Sees M&As Sliding in February; Bayer Acquires Dihon2014-03-05
- Shengshi Shenzhou Fund to Focus on Real Estate Equity Investment2010-03-18
- New Third Board May Lower Entry Threshold for Investors from RMB5M to RMB500,0002014-11-12
- China's 21Vianet Aims For IPO Worth At Least $115 Million2011-04-07
- Alibaba Increases Its Shareholding Ratio in DDcoupon 2013-04-26
- Ctrip Denies Tencent Takeover Rumors2013-07-11
- The Inspiration of U.S. Pet Industry Trends in Developing China's Pet Industry2008-07-08
- Private Education Industry amid Economic Crisis: This Winter is Not So Cold2008-12-31
- Insurance Funds Encouraged to Go to Middle-and-late Stage Projects and Prohibited from VC2010-09-07
- Yahoo Acquires Video Advertising Company BrightRoll for US$640M2014-11-12