VODone to Raise HKD132mn
BEIJING, Oct 13, 2009 (SinoCast Daily Business Beat via COMTEX) --
Company: VODone Ltd (VODOF)
VODone Ltd. (SEHK: 0082) plans to offer at most 92 million shares for HKD 1.43 apiece in a complex private placement, the Chinese Internet, communications, and media conglomerate announced lately.
VODone is estimated to raise HKD 131.56 million via the offering, or HKD 128.5 million excluding costs. HKD 40 million of the money will be used for the company's acquisition of a cellphone game developer named Dragon Joyce, and the rest will become working capital.
The PE investor AID Partners Interactive Investment Ltd. has agreed to buy a certain number of such shares, and promised to give up its options for not more than CNY 100 million worth of VODone shares after the private placement. VODone Chairman Zhang Lijun is predicted to own 15.52% of his company ultimately, compared to 16.21% now.
In addition, the company resumes share trading on the Stock Exchange of Hong Kong on October 13, 2009, after the suspension on the previous trading day.
Source: www.163.com (October 13, 2009)
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Company: VODone Ltd (VODOF)
Related terms: acquisition, communications, conglomerate, hong kong, internet, investment, media, Private Placement, SinoCast China Business Daily news, Internet, communications, media, share, offering, acquisition, cellphone game, working capital
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