April 30, 2018 / 10:23 AM / 25 days ago

BRIEF-Renren Subsidiary Will Offer Private Placement To Certain Renren Shareholders

April 30 (Reuters) - Renren Inc:

* RENREN ANNOUNCES CASH DIVIDEND, PRIVATE PLACEMENT AND ADOPTION OF SHARE REPURCHASE PLAN

* RENREN INC - UPON CLOSING OF PLACEMENT, CO WILL NO LONGER HOLD ANY SHARES OF OPI, OPI WILL BE ENTIRELY OWNED BY PURCHASERS IN PLACEMENT

* RENREN INC - OAK PACIFIC INVESTMENT WILL OFFER NEWLY ISSUED ORDINARY SHARES OF OPI IN A PRIVATE PLACEMENT TO THOSE SHAREHOLDERS OF RENREN

* RENREN - WILL CONTINUE TO OPERATE SNS BUSINESS, USED AUTO BUSINESS, SAAS BUSINESS, INTENDS TO REMAIN LISTED ON NYSE

* RENREN - SHORTLY BEFORE CLOSING OF PRIVATE PLACEMENT, OPI WILL ISSUE A NOTE TO RENREN WITH PRINCIPAL AMOUNT OF $90 MILLION

* RENREN INC - NOTE TO BE ISSUED TO CO BY OPI WILL BE SUBORDINATE TO TWO LOANS WITH AN AGGREGATE PRINCIPAL AMOUNT OF $119.3 MILLION

* RENREN INC - EXPECTS CASH DIVIDEND TO BE BETWEEN $0.4831 AND $0.6096/ORDINARY SHARE OF CO, OR BETWEEN $7.2465 AND $9.1440/ADS Source text for Eikon: Further company coverage:

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