Announcement • Apr 14
Sina Hong Kong Limited cancelled the acquisition of an additional 2.93% stake in Tian Ge Interactive Holdings Limited (SEHK:1980) from Fu Zhengjun, Mai Shi’en, Zhao Weiwen and Xinshow Limited.
Sina Hong Kong Limited proposed to acquire an additional 2.93% stake in Tian Ge Interactive Holdings Limited (SEHK:1980) from Fu Zhengjun, Mai Shi’en, Zhao Weiwen and Xinshow Limited for HKD 22.8 million on January 8, 2026. As part of acquisition, 32,500,000 shares will be acquired for HKD 0.7 in cash per share. Upon completion, Sina Hong Kong Limited will own 29.97% stake in Tian Ge Interactive Holdings Limited. The transaction will be financed from Sina Hong Kong internal resources. The Partial Offer is subject to the satisfaction of the Pre-Conditions and valid acceptances being received in respect of a minimum of 32,500,000 Offer Shares to be tendered. On February 4, 2026, the consent from the Executive in respect of the Partial Offer pursuant to Rule 28.1 of the Takeovers Code has been obtained, and the Executive has ruled that the class (1) presumption of the definition of acting in concert under the Takeovers Code between the Offeror and Fu Concert Parties is rebutted. As such, all Pre-Conditions have been satisfied.
As of February 11, 2026, the board of directors of Tian Ge Interactive Holdings Limited would like to announce that an independent board committee, comprising all independent non-executive Directors, namely, Tse Ming Lun Alan, Wang Mingchun and Lam Yick Man, has been established to advise the independent shareholders of the Company in respect of the Partial Offer. The deal is expected to close on April 13, 2026. As of March 30, 2026, the first closing date, Sina Hong Kong Limited had received valid acceptances in respect of a total of 10,774,501 Offer Shares from Qualifying Shareholders under the Partial Offer representing approximately 0.97% of the total issued Shares of Tian Ge Interactive Holdings Limited. The offer is now expected to close on April 13, 2026.
Yu Ming Investment Management Limited acted as financial advisor for Sina Hong Kong Limited. Red Sun Capital Limited acted as independent financial adviser and fairness opinion provider to advise the Independent Board Committee and the Independent Shareholders in connection with the Partial Offer.
Sina Hong Kong Limited cancelled the acquisition of an additional 2.93% stake in Tian Ge Interactive Holdings Limited (SEHK:1980) from Fu Zhengjun, Mai Shi’en, Zhao Weiwen and Xinshow Limited on April 13, 2026. As at 4:00 p.m. on April 13, 2026, being the Extended Closing Date, the Offeror had received valid acceptances in respect of a total of 10,790,502 Offer Shares from Qualifying Shareholders under the Partial Offer, representing approximately 0.97% of the total issued Shares of Tian Ge Interactive Holdings Limited. In light of the level of acceptance of the Offer, the minimum share condition has not been fulfilled as at the Extended Closing Date. As such, the Partial Offer has not become unconditional and has lapsed accordingly on April 13, 2026.
