China's Innovation Works exits Elex Technology via trade sale
Beijing-based incubator Innovation Works has sold its entire 3.49% stake in mobile games platform Elex Technology to Chinese Universe Publishing and Media for RMB70 million ($11 million).
According to a regulatory filing, the Shanghai-listed media group will spend a total of RMB2.66 billion to acquire Elex through a combination of cash and share swaps. The Innovation Works exit is all in...
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