IDG joins take-private consortium for China's Sungy Mobile
IDG Capital Partners has thrown its weight behind a management-led bid to privatize NASDAQ-listed Chinese app developer Sungy Mobile. The deal values the company at approximately $155 million.
Yuqiang Deng, Sungy's founder, chairman and CEO, and co-COO Zhi Zhu submitted an offer in April of $4.90 per share for all outstanding American Depository Shares (ADS). Several IDG-managed funds, including...
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