Proactive Investors - Run By Investors For Investors

Animoca Brands receiving $3.1M investment from China’s Ourpalm

Animoca Brands receiving $3.1M investment from China’s Ourpalm

Animoca Brands (ASX:AB1) is receiving a $3.1 million investment from leading Chinese mobile game developer Ourpalm Co Ltd (SHE:300315).

The investment solidifies its existing relationship with Ourpalm is a strong endorsement from a market leader in China.

Ourpalm is investing the funds in consideration for 14,785,714 shares representing 11.1% of the company’s expanded share capital.

The purchase price of $0.21 per share represents a premium of 23.5% over the closing price on 24th June 2015.

The partnership with Ourpalm is expected to greatly enhance Animoca's ability to increase revenue generation and accelerate penetration into the Chinese market.

Ourpalm will work closely with Animoca to grow its market share in China, and widen its game distribution in the region as it leverages Ourpalm’s distribution channels and knowhow.

Animoca has also granted Ourpalm an option for a further investment of up to US$5 million at a price equal to 150% of the subscription price ($0.21) when the volume weighted average price of the company’s shares over a five day period reaches 150% of the subscription price.

Ourpalm has a market cap of 29.1 billion yuan (A$6.2 billion). It is China’s leading listed mobile and social web game developer and publisher, employing over 2,000 dedicated staff and working with a global network of companies to publish hundreds of games across China, South East Asia, Europe and the U.S.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

View full AB1 profile View Profile

Animoca Brands Corporation Ltd Timeline

Related Articles

November 27 2018
Covata provides software solutions that enable continuous identification, classification and secure management of unstructured data.
August 24 2018
American Manganese is blazing a trail in the recovery of metals from scrap cathode material rejected by battery manufacturers
Artist Michael Foran photographs the burning US Twin Towers after the 9/11 attacks
April 10 2019
The information sharing platform archTIS commercially launched this week was inspired by the threat of the 9/11 attacks in the US and is continually relevant amid global tensions.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use