Color Star Technology jumps on deal to buy K-pop agency
23/09/2020 13:15
** Education services company's shares HHT.O rise 12.7% to
$0.52 in premarket trading
** Co's unit Color China Entertainment Co Ltd to acquire
100% equity interest in FENT Co Ltd, a South Korean K-pop
entertainment and artist agency service company urn:newsml:reuters.com:*:nPnbJLwb5a
** FENT, or Fascino Entertainment, also sells cosmetics and
fashion products through its online channels
** HHT provides online education through its Color World
music and entertainment education platform, besides after-school
entertainment tutoring in New York
** Last week, co offered to sell 13.2 mln shares in a direct
offering to certain investors for $6.6 mln raise and also issued
warrants to buy up to 11.88 mln shares urn:newsml:reuters.com:*:nL4N2GD3DV
** HHT and FENT to finalize a definitive agreement by
year-end
** Stock down 68% YTD, as of last close
(Reporting by Devik Jain in Bengaluru)
((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))