Reuters
Ourpalm Co Ltd announced that it has decided to issue new shares and pay cash to acquire a 100% stake in Dovo Technology, Inc. for RMB 810.09 million in total.
The Company will pay cash of RMB 315.42 million to Wang Guiqing, Li Zhichao and two Guangzhou-based companies to acquire a 58.05% stake in Dovo Technology.
The Company will issue 23,488,601 shares to Song Haibo, Li Rui, Zhang Jie, Chen Jiaqing, Han Changchun and another company, at the price of RMB 10.53 per share, or RMB 247.335 million in total, as well as pay cash of RMB 247.335 million, to acquire a 41.95% stake in Dovo Technology.
The Company will also issue up to 28,514,255 shares, at the price of no less than RMB 9.47 per share, to raise up to RMB 270.03 million. The Company will use the proceeds to pay cash to acquire shares of Dovo Technology.