AGTech Holdings Ltd, a supplier to mainland China’s regulated lottery market, says it is still pursuing a deal to purchase an offshore company called Score Value Ltd for up to HKD489.5 million (US$63 million).
AGTech said on Monday that an exclusivity period on the potential deal had been extended for two months, with a new expiry date of December 14.
The firm didn’t give details in its latest filing to the Hong Kong Stock Exchange’s Growth Enterprise Market – nor in its original July 15 filing announcing the acquisition talks – on the nature of the business held by Score Value, which is registered in the British Virgin Islands.
If the deal goes ahead it is likely to involve a maximum of HKD189.5 million in cash and HKD300 million by allotment and issue of consideration shares, AGTech said in its Monday filing.
In August, the firm reported that its first half losses had widened year-on-year by nearly 70 percent to HKD88.9 million from HKD52.7 million in the year prior period, on declining revenue.
The firm provides equipment including lottery terminals to China’s Sports Lottery Administration Centre.
Sep 20, 2021The Macau government should give more detailed information on its proposed new regulatory requirements for the city’s gaming sector, in particular the idea of raising the minimum share capital...
”The Macau government is not aiming to trivialise or drive out the junket sector, but to regulate the sector so that it would not hurt Macau’s reputation”
Alvin Chau Cheok Wa
Chief executive of privately-held VIP junket business Suncity Group