Interactive Entertainment plans to raise more than 1.5 billion yuan to invest in games, sports and other industries

Interactive Entertainment announced on the evening of the 12th that it plans to issue no more than 138 million shares in non-public shares and raise no more than 1.557 billion yuan in total funds for the "High-Quality IP Roaming Linkage Project" and the "Royal Spaniard Club Team Upgrade Project". At the same time, due to reasons such as the reduction in supporting fundraising, the company suspended the purchase of equity in Quwan Network.

Interactive Entertainment announced on the evening of the 12th that it plans to issue no more than 138 million shares in non-public shares and raise no more than 1.557 billion yuan in total funds for the "High-Quality IP Roaming Linkage Project","Centralized Management Office Platform Housing Project", and "Royal Spaniard Club Team Upgrade Project" and "Supplementary Working Capital Project". At the same time, due to reasons such as reduced supporting fundraising, the company suspended the purchase of equity in Quwan Network.

Among the fundraising projects, the total investment in the high-quality IP roaming linkage project is 537.6176 million yuan, and it is planned to invest 327.4938 million yuan in raised funds to purchase and reserve high-quality IP resources and carry out roaming linkage development. IP is the cornerstone, film and television animation production is the enhancement carrier, and game research and development and production are the driving point to create a collaborative integration of the interactive entertainment industry chain.

The centralized management office platform housing project is for the company to purchase office space in Guangzhou, with a construction area of no less than 20,000 square meters, and the total amount of purchased houses, decoration and office furniture of no less than 650 million yuan. It is planned to use the raised funds to invest 650 million yuan, and the insufficient part will be solved by the issuer's own funds.

In addition, the company plans to increase capital of no less than 381.8518 million yuan to the Royal Espanyol Club through its wholly-owned subsidiary Espanyol Hong Kong to purchase and reserve the players needed by the team and enhance the team's competitive strength.

As of June 30, 2016, Spaniard Hong Kong has held a total of 84.38% of Royal Spaniard's shares through successive acquisitions.

At the same time, in order to meet the company's strategic promotion and business development needs for working capital, the company plans to use the proceeds raised from this non-public offering to supplement working capital of 198 million yuan.

Interactive Entertainment stated that after the completion of this release, it will further increase the company's IP reserves in literature, games, animation, film and television and other fields, deeply explore and exert IP value in animation, literature, music, video, home entertainment and other fields, and cut into sports and other cross-industry chain content, products and services, deepen the platform layout of the company's entertainment ecosystem, improve the interactive entertainment industry chain, increase the company's business scale, and enhance the company's profitability.

Editor: vian