CHENGDU, Feb. 14 (NBD) -- Chinese singer and movies star Zhao Wei is to become the fifth largest shareholder of Wanjia Culture, following amendments of Feb. 13, 2017 on share transfer agreement between Wanjia Culture and Tibet Longwei Culture & Media, a start-up by Zhao. 

Wanjia Culture (600576, SH), based in East China's Zhejiang Province, states in an announcement that its controlling shareholder has entered into a supplementary agreement dated Feb. 13, 2017 based on the original share transfer agreement, with Tibet Longwei Culture & Media. 

Following the announcement, Wanjia Culture is scheduled to transfer 32 million shares of its stock, down from previously designed 185 million shares, to Tibet Longwei Culture & Media, a deal shrinked to worth of 529.28 million yuan (76.93 million US dollars).

Longwei's source of fund to control Wanjia (Click the link for previous coverage)

 

Email: zengyunheng@nbd.com.cn

Editor: Zeng Yunheng