DCM Sale Details

Absrtact: Yiu Jingbo (left), MA (right) October 11 News, 58 the same city in the paper submitted to the U.S. Securities and Exchange Commission (SEC) disclosed the large shareholder DCM Venture Company's sale of shares, the document shows that, following June 30 by 58 in the same city repurchase more than 7 million shares of Class B shares,
Yiu Jingbo (left), MA (right)

October 11 News, 58 the same city in the United States Securities and Exchange Commission (SEC) documents disclosed in the large shareholder DCM Venture Company's sale of shares, the document shows that June 30 by 58 in the same city repurchase more than 7 million shares of Class B shares, DCM also dumped 2.8 million shares of Class B shares in the open market on September 30--a further reduction in shares and voting rights in the city of 58.

58 the same city in the document said that September 23 this year, DCM venture companies to 58 of the city 2.8 million B shares into 2.8 million a stocks, and on September 30 on the average of the United States Depository Shares (ADS) of 36.91 U.S. dollars in the open market selling prices.

DCM Sale Details

58 the same city 1 shares of common stock equivalent to 2 shares of ADS,DCM selling 2.8 million shares of the transaction size of about 207 million U.S. dollars. Up to now, as of June 30 and 58 in the same city for Repo b transactions, DCM has been reduced by 10,638,948 shares of Class B shares, the total size of the transaction 364 million U.S. dollars. As of April 15 this year, DCM also held 22,034,498 shares of 58 common shares in the city.

58 share structure of the city as at April 15, 2014

As the 58 shares of the same city B share more than the voting rights of a type of shares, along with the selling behavior, DCM not only reduced its holdings, but also significantly reduce the 58 of the city company's business voting rights. 58 shares in the city a share 1 votes per share, while the B shares enjoy 10 voting rights per share.

After the September 30 Sell-off, DCM also held 58 shares of 11,395,549 shares in the same city, of which about 6,067,359 shares were of Class B shares.

DCM reduction of the background is Tencent June 27 736 million U.S. dollar shares of 58 with the city, with Tencent in 58 with the city's shareholding ratio and the gradual increase in voting rights, 58 of the city's early investors are corresponding to reduce the city in the 58 "sense of existence."

Tencent gained 20% per cent of its investment in 58 with the city, and at the end of September, 100 million dollars were bought in the open market, at 23 million dollars in the open market in early October, with total investment up to 859 million U.S. dollars, shares rising to 25.3% and voting rights up to 16.02%. (Xiao Feng)