JiuZun Digital Entertainment has officially changed its name to DuoNiu Technology Group as of August 4. The name change marks the official completion of DuoNiu Group’s HK$300 million (approximately RMB 258 million) acquisition of JiuZun Digital Entertainment.
On February 8 of this year, JiuZun Digital Entertainment issued a joint announcement that the company had received a HK$300 million takeover offer. Five shareholders of JZ Digital Entertainment transferred approximately 390 million shares, equivalent to 71.9% of the entire issued share capital, valued at approximately HK$215.9 million, to the buyer led by Infinities Global Technology Limited Partnership at a valuation of HK$300 million.
The buyer, Infinities Global Technology Limited Partnership, whose beneficial owner is the DuoNiu Group, has since received 23,888,000 offer shares, or about 4.38% of the entire issued share capital, at the same price by way of an open offer.
According to the information, the assets of Duoniu Group include Renren.com, online gaming community NGA, etc., and the shareholder lineup includes a number of listed companies such as Perfect World, Renren Group and Light Media.
Juzun Digital Entertainment is a comprehensive Internet game operator and publisher, whose games include “Sacred Number Calling Song”, “Heart in Moe”, “Spiritual World” and “Yao Shi Shen Mo Record”.
