Brief: KongZhong announces strategic investment in Forgame Holdings

Forgame Holdings

30/12/2014 13:31

Dec 30 (Reuters) - KongZhong Corp  KZ.O : 
 * Announces strategic investment in Forgame Holdings Limited 
 * Says entered into share purchase agreement to acquire about 8.89 million 
   existing ordinary shares of Forgame Holdings Limited 
 * Deal for HK$ 14.00 per ordinary share or approximately HK$ 124.51 mn 
   (approximately US$ 16.0 mn at current exchange rate) 
 * Says the board of directors of KongZhong has approved the transaction 
 * Says upon completion of the transaction, KongZhong will hold approximately 7% 
   of the total issued share capital of Forgame 
 
 * Source text for Eikon  ID:nPn3MsRM9  
 * Further company coverage  KZ.O   
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