Scienjoy set for best day in over a month on deal for Hongle.tv

Scienjoy Holding

29/12/2021 17:48

(Updates)
    ** Scienjoy  SJ.O  shares rise as much as ~22% to $6.57 - on
track for their best day in over a month 
    ** Co will buy Beijing Weiliantong Tech Co, owner of mobile
livestreaming platform Hongle.tv and NFT business owner Golden
Shield Enterprises, for 280 mln yuan ($43.99 mln)  urn:newsml:reuters.com:*:nFWN2TD071
    ** Hongle.tv hosts more than 93,000 broadcasters streaming
to over 42 mln users, mostly in 18 to 25 years age group 
    ** SJ will pay 180 mln yuan in shares and the rest in cash 
    ** Stock down ~38% for the year, as of Tuesday's close 

($1 = 6.3651 Chinese yuan)

 (Reporting by Yuvraj Malik in Bengaluru)
 ((yuvraj.malik@thomsonreuters.com))