Announcement: withdraw from investment in Opera browser, subsidiary plans to sell Openg stake for $129 million

CTOnews.com Sept. 23, 360 announced that the wholly-owned subsidiary Qifei intends to buy back its 4675 million shares in the participating company Opera Limited (Oupeng browser) (accounting for 20.3% of the total shares of Openg browser) at a price of 5.50 US dollars / ADS. The total transaction price is 129 million US dollars. CTOnews.com learned that after the completion of the transaction, 360 will no longer hold a stake in Obon browser.

360 said that in November 2016, the company acquired a 27.5% stake in Oupeng browser through equity participation at a price of US $158 million. After several rounds of equity incentive share registration, rights issue, public offering of securities and share buyback, as of June 30, 2022, the company holds about 20.30% stake in Openg browser.

The company is accounted for by the long-term equity investment equity method, and as of the date of this announcement, the book value of the Opon browser equity is approximately US $201 million, which is approximately US $72 million (at the exchange rate of the people's Bank of China on September 23, 2022). About 503 million yuan).