The cybersecurity service provider Venustech announced to add China Mobile as a strategic shareholder and transfer its power of control through private placement. The company announced to issue 284 billion shares of a private placement to China Mobile Capital Holding Co., Ltd., a wholly-owned subsidiary of China Mobile Limited, at a price of CNY 14.57/share in return for CNY 4.143 billion for supplementing liquid funds.
Upon the conclusion of the deal, China Mobile will represent 23.08% in Venustech's holding structure and thus become the actual controller of the latter. The deal that has been ratified by Venustech's Board of Directors is yet to be adopted at the shareholders' meeting and approved by relevant authorities.