IDG-backed Super Sports set for reverse merger in Hong Kong
Two funds managed by IDG Capital Partners will make partial exits from Super Sports Media – which holds the mainland China broadcast rights for English Premier League football matches – through a reverse merger with Hong Kong-listed comic book publisher Culturecom Holdings.
Culturecom will fund the HK$3.87 billion ($498 million) purchase, which comprises HK$2.53 billion in cash and HK$1.33 billion in shares, by issuing HK$1.86 billion in new and ordinary and convertible shares...
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