Sealand Capital To Buy 55% Stake In Advertising Firm New Sky Global

LONDON (Alliance News) - Sealand Capital Galaxy Ltd said Tuesday that it will acquire 55% stake ...

Alliance News 14 May, 2019 | 1:35PM
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LONDON (Alliance News) - Sealand Capital Galaxy Ltd said Tuesday that it will acquire 55% stake in Hong Kong-incorporated digital marketing and advertising firm New Sky Global Media Ltd for HKD120,000, or around GBP11,809.

The IT and social media businesses focused investment company's unit ecWay (France) Ltd subscribed for 120,000 new ordinary shares in New Sky Global. Services offered by New Sky Global are complementary to those already offered by ePurse, Sealand's subsidiary and the acquisition is expected to generate substantial commercial, operational, marketing and customer acquisition benefits to the Company.

"Sealand's holding in New Sky Global will create synergistic opportunities, especially for ePurse. Collectively, our group of companies will reach more customers in different industries, across more regions and on more platforms than ever before. ePurse will naturally refer clients seeking more in-depth marketing solutions to New Sky Global, which has a broader service offering. On the reverse, New Sky Global will benefit from ePurse's deep relationships with the WeChat platform and Tencent's services and products," Sealand Chair Nelson Law said.

Shares in Sealand were untraded at 2.75 pence per share.

By Tapan Panchal; tapanpanchal@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Sealand Capital Galaxy Ltd 2.75 GBX 0.00 -
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