Alibaba Ventures’ plan to reduce its stake in Light Media has been completed.
Editor’s note: This article is from the micro-channel public number “investment community” (ID: pedaily2012) , Author: Yang Lily.
Whether it is reducing the holding of Light Media or acquiring Galaxy Cool Entertainment, it may ultimately be the fight between Ali and Tencent, two entertainment empires.
Last night, Alibaba Ventures’ plan to reduce its holding of Light Media was completed.
The investment community (WeChat ID: pedalai2012) was informed that on the evening of March 25, Guangguang Media announced that as of March 24, 2020, Ali Ventures had reduced its holdings of 57,664,784 shares in the company. Based on the average reduction of 9.72 yuan, the total cash out was more than RMB 560 million.
Ali Venture Capital just cashed out 560 million, and Ali Pictures immediately spent 400 million to acquire 60% of Galaxy Cool Entertainment. Between this reduction and the acquisition, there is a hint of information: the fight between Ali and Tencent, the two entertainment empires, may be intensified.
Cash over 560 million, Alibaba Ventures’ plan to reduce its holding of light media has been completed
In the evening of March 25, Guangguang Media issued an announcement saying that the company had received the “Notice of Progress of Shareholder Reduction from Shareholders” on March 24, 2020. As of March 24, 2020, Ali Ventures 57,664,784 shares of the company have been reduced. Based on the average reduction of 9.72 yuan, a total of RMB 560 million was cashed out.
Guangzhou Media announced that the shares held by Ali Ventures this time are non-public shares issued by the company to Ali Ventures in 2015 (including the non-public issue of shares after the implementation of the distribution of capital public reserve funds into equity), The number of reductions is 7 times, and the price range for reductions is 8.71 yuan / share to 12.16 yuan / share.
Previously, Guangguang Media had received the “Letter of Share Reduction Plan Notification” from Ali Ventures on September 2, 2019. Ali Ventures intends to post fifteen trading days from the date of the pre-disclosure announcement of the reduction plan. Within six months (the window period does not reduce holdings), the number of shares held by the company through centralized bidding transactions or block transactions shall not exceed 58,672,168 shares (the proportion of the company’s total share capital shall not exceed 2.00%).