500.com Ltd. (WBAI) Enters Strategic Investment in Qufan
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500.com Limited Announces Strategic Investment in Qufan
November 25, 2016 6:00 AM ESTSHENZHEN, China, Nov. 25, 2016 /PRNewswire/ -- 500.com Limited (NYSE: WBAI) ("500.com" or the "Company"), a leading online sports lottery service provider in China, today announced that it has agreed to invest in Qufan Internet Technology Inc. and Shenzhen Qufan Internet Technology Co., Ltd. (together "Qufan"), an operator of mobile social poker games. 500.com is investing in ordinary shares representing 51.0% of equity interest in each of Qufan Internet Technology Inc. and Shenzhen Qufan Internet Technology Co., Ltd. for an aggregate cash consideration of RMB110.5 million (approximately US$16.0 million). The consummation of the... More
