The9 Limited Announces Share Exchange Transaction

Posted by Betty Tűndik September 3, 2018

 

The9 Limited (Nasdaq: NCTY) (the “Company” or “The9”), an established Internet company, today announced that it has signed a definitive agreement with Leading Choice Holdings Limited, a company incorporated in Hong Kong (“Leading Choice”), and the shareholder of Leading Choice for the issuance and sale of 21,000,000 ordinary shares (which equals to 7,000,000 American Depositary Shares) of the Company, par value of US$0.01, to Leading Choice at US$0.714 per ordinary share (which equals to US$2.14 per American Depositary Share), in exchange for a minority equity interest in Leading Choice as consideration (the “Transaction”). The completion of the Transaction is subject to customary closing conditions.

The9 has stepped into blockchain-related business and also develops and/or operates its proprietary mobile games, including the CrossFire New Mobile Games, Audition mobile, Fashion Pop and Q Jiang San Guo.

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