Youzu Hits Restrict-Up as Chinese language Web Big Sina Is Stated to Purchase Property of Sport Developer

(Yicai International) Oct. 15 — Shares of Youzu Interactive, a Chinese language video video games developer whose founder died from poisoning on Christmas Day final yr, soared by the exchange-imposed restrict after web large Sina Group Holding was reported to have plans to purchase property of the corporate.

After surging by as a lot as the ten % restrict earlier at the moment, Youzu Interactive’s inventory value [SHE:002174] closed up 8.1 % at CNY12.62 (USD1.96).

Sina plans to amass a few of Shanghai-based Youzu’s property, The Paper reported yesterday, citing an individual aware of the matter. The pair has been in talks for months a few deal, which might not embrace the mental property rights to science fiction novel The Three-Physique Downside.

Written by Chinese language creator Liu Cixin, The Three-Physique Downside received the Hugo Award for greatest novel in 2015. Netflix introduced final September that it could work with Youzu to adapt the sci-fi trilogy right into a tv collection.

“Sina has little interest in The Three-Physique Downside,” the particular person stated. “[Youzu] Chairwoman Xu Fenfen is recruiting traders who’re within the IP.”

Youzu stated that it could launch particulars about any acquisition in a inventory change submitting, The Paper stated, noting that Sina had not but commented. An announcement is anticipated later this yr, the report added.

A consortium led by Sina was in superior talks to amass at the least 18 % of Youzu, Reuters reported on June 7, citing two folks with direct data of the matter. Shopping for into Youzu might assist Sina, a former US-listed inventory taken personal in March, to arrange for an inventory in China.

Youzu was based by Lin in 2009. His three kids inherited virtually 24 % of Youzu’s fairness, and his spouse took over the chairmanship, the agency stated on Feb. 24. Since then, there have been many rumors about Youzu’s property being bought.

The corporate has 4 main enterprise divisions: world sport growth and distribution; large knowledge functions; IP growth and operations; and pan-entertainment business funding.

Editor: Futura Costaglione