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Jan 13, 2022 10:52 PM (GMT+8) · EqualOcean
On January 13, chizicheng Technology (9911. HK), China's largest social sea going company, announced that it would establish a fund in partnership with spriver tech Limited (spriver) and one of its wholly-owned subsidiaries before March 31. One of the purposes of the fund is to participate in the privatization transaction of Blue City brothers (BLCT. US). The announcement shows that chizicheng technology will invest US $50 million, accounting for 50%; Spriver will contribute US $49.9 million, accounting for 49.9%. Spriver is the wholly-owned holding company of Liu Chunhe, chairman of chizicheng technology, and the single largest shareholder of chizicheng technology. It made a privatization offer to Lancheng brothers earlier this month. The announcement said that the fund will focus on the TMT track from a global perspective, focusing on investment opportunities in metauniverse, social networking, games and other industries, which can help the company continue to grow around its main business and seek new development opportunities at the same time. By participating in the privatization of Blue City brothers, chizicheng technology will officially enter the LGBTQ social track and expand its territory in the global stranger social market.

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