Ali holding the latter won 2 billion yuan cheap Taobao lottery operation right AGTech

Sina

technology news March 6th evening news today, Hong Kong GEM COMPANY AGTech (08279.HK) announcement, announced that he had signed a subscription agreement in March 4th with a Ali company, the company by the Alibaba holding and payment service ant indirectly owned 60% and 40% equity.

said the announcement, the company subscribed AGTech a total of 4817399245 shares (shares at a subscription price of HK $0.3478 per share subscription of shares, the shares accounted for the current calculation), approximately 102.85% of the issued share capital and by the allotment and issue of shares subscribed enlarged issued share capital of about 50.70%; in addition, also aggregate principal amount of HK $712582483 of convertible the bonds, bonds give bondholders rights at the initial conversion price of HK $0.3478 per share convertible shares to subscribe for up to 2048918721 shares of convertible shares.

after the completion of the subscription, the Alibaba will hold 59.45% of the shares of agtech. The board will be composed of 9 people, including the current independent non-executive directors of the company, chairman of the company Sun Hao, as well as the nomination of the Alibaba, the non executive director of the 5. Sun Hao will be transferred to the chief executive officer of the company, the current executive director will leave 3.

two subscription amount of HK $1675417517 and HK $712582483, with a total of HK $2 billion 388 million, or about $2 billion.

it is worth noting that, as of Friday’s closing price of HK $1.99, AGTech, Alibaba and the subscription price was only HK $0.3478, two far.

Alibaba to Sina Technology, said, China’s lottery market has great commercial potential. AGTech is Chinese leading integrated technology service provider Alibaba believe that on the lottery, AGTech investment will help to seize the opportunity in this market potential. We will use in the electronic commerce platform, cloud computing and big data and other aspects of the experience and resources to support and promote AGTech better business development."

cheap shares in exchange for cooperation agreement

In addition,

, Taobao, Alipay and AGTech also signed a business cooperation framework agreement, AGTech will become the exclusive business platform and Alibaba group ant gold clothing group lottery business, this is perhaps the main reason for Ali cheap shares, both major cooperation projects include:

(1) AGTech will become the Alibaba group and ant payment service group to apply and hold exclusive business platform lottery business operation qualification and license.

(2) AGTech the operation and management of Alibaba and payment service group group of ants all lottery software and hardware products, the ant payment service lottery related payment software and system development group or have the exception.

(3) AGTech will receive Taobao software license from Taobao operating platform lottery channel >