May 29, 2017 / 6:49 AM / 2 months ago

BRIEF-AppSpotr and Novel Unicorn to form Hong Kong based joint venture company

1 Min Read

May 29 (Reuters) - APPSPOTR AB:

* Appspotr Signs Deal to Go After the Asian Market

* ‍ENTERED INTO A COOPERATION AGREEMENT WITH HONG KONG BASED INVESTMENT COMPANY NOVEL UNICORN LTD REGARDING ASIAN MARKET.​

* ‍APPSPOTR WILL ISSUE 15 MSEK WORTH OF NEW SHARES, 5 MSEK OF WHICH WILL BE DIRECTED TO NOVEL UNICORN.​

* ‍APPSPOTR AND NOVEL UNICORN WILL FORM A HONG KONG BASED JOINT VENTURE APPSPOTR ASIA, OF WHICH NOVEL UNICORN WILL INITIALLY OWN 70 PERCENT AND APPSPOTR 30 PERCENT

* ‍IF ALL MILESTONES ARE REACHED APPSPOTR ASIA WILL BE A WHOLLY OWNED SUBSIDIARY OF APPSPOTR​ Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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