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Internet giant Tencent makes move into Chinese lottery market

17th October 2014 12:06 pm GMT

Chinese internet media giant Tencent Holdings has made a move into China’s fast-growing lottery sector with an initial HK$445.5m (€44.9m) investment in supplier China LotSynergy Holdings.

A wholly owned subsidiary of Tencent has entered into an agreement to subscribe for 594,034,513 new shares at a subscription price of $0.75 per share, equivalent to an investment of $445.5m.

This represents 7 per cent of the issued share capital of China LotSynergy as enlarged by the allotment and issue [...]

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