As a result, tiger tooth or its subsidiaries will acquire each outstanding common stock of Betta (including common stock represented by American Depository shares). Under the proposal, Betta shareholders will receive an agreed number of new class a common shares issued by Huya in exchange for their respective Betta shares.
the betta Board plans to review and evaluate the potential deal. The board also reminded Betta shareholders and others considering trading in the company’s shares that the board had just received the proposal and had not had the opportunity to examine and evaluate the proposal carefully, nor had it made any decision. Furthermore, the betta board cannot guarantee that any final offer will be received in the future and that any final agreement relating to the proposed transaction will be executed or completed.
according to the form 20-F document submitted to the securities and Exchange Commission (SEC) in April this year, Tencent held 38% of the company’s shares as of March 31, 2020, making it the largest shareholder.
according to the financial report of the second quarter of 2020 released by Betta today, the second quarter revenue was 2.508 billion, with a year-on-year growth of 33.9%; the gross profit reached 523 million yuan, with a year-on-year increase of 73.7%; the net profit under non-U.S. general accounting standards was 323 million yuan, with a year-on-year increase of 513.7%.
in April, Tencent exercised its share option and acquired 16.5 million shares of class B common shares of Huya group from huanju group with a cash of $263 million, becoming the largest controlling shareholder of Huya, with the voting right raised to 50.1%.
recently, the news of Tencent promoting the merger of tiger tooth Betta has been incessant. From the financial reports of both sides, the two data are getting closer and closer. In the first quarter of 2020, douyu made every effort to catch up with Huya, and its total revenue continued to close, and its net profit exceeded that of Huya in the first quarter of 2020.