The Chinese have bought 10.26% stake in DST
The largest Russian investment fund Digital Sky Technology (DST), which owns shares of Facebook, Zynga, Odnoklassniki, Vkontakte, Mail.ru and HeadHunter.ru projects, is now partly owned by the Chinese.
The Chinese Internet company Tencent Holdings Ltd acquired 10.26% of the Russian DST fund for a non-circular amount of $ 300,002,113, according to a press release on the Hong Kong stock exchange website. The total capitalization of the Russian company Tencent estimated at about $ 2.63 billion.
In accordance with the structure of the transaction, Tencent’s share will correspond to approximately 0.51% of the voting shares in DST, and the company will receive the right to nominate one observer without the right to vote on the DST board of directors.
This imbalance in the share of the company and the right to vote is due to the fact that there are several types of stocks in DST: Class A shares, Class C shares and ordinary shares. The former have 25 times more voting power than ordinary stocks, and class C is generally deprived of voting power and tied exclusively to one or another of the economic assets of DST.
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The Chinese have bought 8114 ordinary shares.
The Chinese Internet company Tencent Holdings Ltd acquired 10.26% of the Russian DST fund for a non-circular amount of $ 300,002,113, according to a press release on the Hong Kong stock exchange website. The total capitalization of the Russian company Tencent estimated at about $ 2.63 billion.
In accordance with the structure of the transaction, Tencent’s share will correspond to approximately 0.51% of the voting shares in DST, and the company will receive the right to nominate one observer without the right to vote on the DST board of directors.
This imbalance in the share of the company and the right to vote is due to the fact that there are several types of stocks in DST: Class A shares, Class C shares and ordinary shares. The former have 25 times more voting power than ordinary stocks, and class C is generally deprived of voting power and tied exclusively to one or another of the economic assets of DST.
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The Chinese have bought 8114 ordinary shares.
Source: https://habr.com/ru/post/90831/
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