Yinji Media plans to add 2.5 billion yuan to its main entertainment media business

Yinji Media launched a non-public offering plan on the evening of January 4, planning to issue shares to five investors, including controlling shareholder Xiao Wenge, in order to raise no more than 2.5 billion yuan to increase the company's main entertainment media business.

On the 4th, Yinji Media planned to issue shares to five investors, including controlling shareholder Xiao Wenge, in order to raise no more than 2.5 billion yuan to increase the company's main entertainment media business.

According to the plan disclosed by the company, the issue price of this non-public offering is expected to be no less than 90% of the average stock trading price in the 20 trading days before the pricing benchmark date, that is, 31.50 yuan/share, and the number of shares issued shall not exceed 79365075 shares. There are a total of 5 investors issued. The total amount of funds raised from this non-public offering will not exceed 2.5 billion yuan, and after deducting issuance expenses, will all be used for cable network-based home Internet platform projects, film and television drama projects and supplementary working capital.

All five issuance targets have signed "Share Subscription Agreements" with effective conditions with Yinji Media on December 31, 2015. All of them will subscribe for the shares in this non-public offering in cash. The shares subscribed will not be transferred within 36 months from the end of the issuance.

Before this issuance, Xiao Wenge, the company's controlling shareholder, held 720856720 shares of Yinji Media, accounting for 65.17% of the company's total share capital. In this non-public offering, Xiao Wenge plans to subscribe for 2857142 shares of the company. After the issuance is completed, Xiao Wenge's shareholding ratio will be adjusted to 61.05%, and he will remain the controlling shareholder and actual controller of Yinji Media.

The company stated that this non-public offering will help Yinji Media integrate resources through capital ties, raise funds to develop business while introducing strategic partners, improve the all-media industry layout, optimize the industrial structure, accelerate the promotion of new media business, and accelerate the pace of strategic transformation., lay a solid foundation for improving the company's profitability and maintaining sustainable development, and strive to create a large-scale international entertainment media group with strong strength, communication, credibility and influence.

Editor: vian