Rego Interactive Acquires Full Control of Welfare Lottery Firm in 18 Million Yuan Deal

MT Newswires Live07-01

Rego Interactive (HKG:2422) unit Hangzhou Rego Network agreed to acquire a 95% stake in Caipingfang Technology from three Chinese firms for 18.3 million yuan, a Monday Hong Kong bourse filing said.

Xi'an Tiantai Innovation Technology, another unit of the company, holds the remaining 5% equity interest in Caipingfang Technology.

Both Hangzhou Rego Network and Xi'an Tiantai Innovation Technology are wholly owned subsidiaries of Rego Interactive, effectively giving the company full control of Caipingfang.

The target firm engages mainly in the welfare lottery business for lottery distribution through physical channels, as well as an ancillary and marketing services business.

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