Core Viewpoint - The company, LeTou Interactive (08198.HK), has entered into a subscription agreement with 500.com Limited for the subscription of 169 million shares, representing approximately 44.7% of the company's issued share capital, at a price of HKD 0.62 per share, which is a discount of about 10.1% from the closing price on January 27 [1][2] Group 1 - The net proceeds from the subscription are estimated to be approximately HKD 103 million, primarily intended for payment of acquisition costs related to the purchase of a 49% stake in a target company, Ganzi Prefecture Changhe Hydropower Consumption Service Co., Ltd., for RMB 88.2 million [1] - The target company was established in April 2019 and focuses on data processing and application software services [1] - The board of directors has proposed to increase the company's authorized share capital from HKD 55 million to HKD 65 million by creating an additional 100 million shares, subject to shareholder approval [2] Group 2 - Following the completion of the subscription, the offeror and its concert parties will hold approximately 54.26% of the enlarged issued share capital, assuming all share options are exercised [2] - The offeror is required to make a cash offer for all offer shares at HKD 0.75 per share, representing a premium of about 8.7% over the closing price on January 27 [3] - The offeror is a Cayman Islands registered company with a market capitalization of approximately USD 607 million as of January 27, 2021, and is one of the first companies in China to provide online lottery services [3][4]
乐透互娱(08198.HK)获500.com Limited溢价8.7%提收购要约