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08198 LOTO INTERACT
RTNominal down0.097 -0.001 (-1.020%)
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14/06/2019 17:33

Loto Interactive (08198) to set up JV for big data centre

[ET Net News Agency, 14 June 2019] Loto Interactive Limited (08198) said its subsidiary
Loto Interactive Information Technology (Shenzhen) Limited (Loto Shenzhen) has entered
into a JV agreement with Shenzhen Chengyou Technology Co., Ltd. (the JV partner). They
will form a JV company, which is proposed primarily to be a vehicle for the investment in
and operation of big data centre services.
The JV company will be beneficially owned as to 49% by the JV partner and 51% by Loto
Shenzhen. The capital contribution payable by the JV partner is RMB73.5 million. The
capital contribution payable by Loto Shenzhen is RMB76.5 million, which will be funded by
the group's internal resources.
The JV partner is principally engaged in research and development of computer storage
technology, data processing, data service and application software service. (RC)

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