IMAGI TO SPEND CNY800MN BUYING INTO CARTOON TRAIN

AsiaInfo Services
02-21-2011
imagi+international+holdings+ltd[(igitf)]\ hopewell+holdings,+ltd[(howwf)]

Imagi to Spend CNY800mn Buying into Cartoon Train

BEIJING, Feb 21, 2011 (SinoCast Daily Business Beat via COMTEX) -- Imagi International Holdings Limited (SEHK: 0585) announced the purchase of Cartoon Train Group that creates a well-known animation "Goat and Big Big Wolf " in Mainland China at CNY 814 million.

The buyer intends to pay CNY 330 million in cash and the rest capital through issuing and placing 1.383 billion shares at CNY 0.35 a share. Bofanti Limited, a wholly-owned subsidiary under CK Life Sciences Int'l., (Holdings) Inc. (SEHK: 0775), Yung's Enterprise Holdings Limited Chairman Larry Yung Chi Kin, and Hopewell Holdings Limited Vice Chairman Eddie Ping Chang HO are said to subscribe for the shares issued by the Hong Kong-listed buyer. Besdes, two memebr funds under IDG, Mousserena L.P., and a fund under China Consumer Capital Partners Ltd. also are subscribers.

In addition, Imagi International will totally issue 1.283 billion shares to ten subscribers at CNY 0.28 a share to finance about CNY 359 million, which will used to as the cash payment.

Source: www.163.com (February 21, 2011)

KEYWORD: BEIJING INDUSTRY KEYWORD: Internet & Online Services & Media SUBJECT CODE: Media
Printing/Publishing
SinoCast China Business Daily news
share purchase
animation
cash payment
share placement
subscriber

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