Business
Sharing Economy International Enters into Share Exchange Agreement to Acquire 100% of OOB HK Limited to further enhance its digital marketing capabilities
Sharing Economy International Enters into Share Exchange Agreement to Acquire 100% of OOB HK Limited to further enhance its digital marketing capabilities.
About this update from Sharing Economy International Inc.
[{"type":"text","content":"\n\n\n\nSharing Economy International Enters into Share Exchange Agreement to Acquire 100% of OOB HK Limited to further enhance its digital marketing capabilities\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nSharing Economy International Enters into Share Exchange Agreement to Acquire 100% of OOB HK Limited to further enhance its digital marketing capabilities\nPR Newswire\nHONG KONG, April 15, 2020\n\n\n\nHONG KONG, April 15, 2020 /PRNewswire/ -- Sharing Economy International, Inc. ('SEII or \"the Company\") (OTCQB: SEII) today announced that it has entered into a share exchange agreement with the shareholders of OOB HK Limited (\"OOBHK\"), to acquire 100% ownership of OOBHK. SEII will acquire 100% of OOBHK with the issuance of 239,387,189 shares of SEII series A convertible preferred stock at a price of $0.33 per share.\nLaunched in the year 2012, OOB HK holds a control shares of OOB Sichuan which is listed on NEEQ and has a market capital value of over 1 billion RMB, is a marketing agency focused on serving brand customers in China with an integrated solution, both online and offline. Its clientele includes multinational brands such as Pizza Hut, Dumex, Remy Martin, Jaguar, Kao, and also large local brands like Ping An, Anta and Dicos. Its business spans across traditional media buy, social media marketing, and result-oriented mobile marketing. OOB Sichuan records 48 million RMB in revenue for the year of 2018.\n\"Our mission is to provide a cost-effective approach towards marketing which allows brands to maximize return on investments,\" said Dominic Yee, CEO of OOBHK. \"And we continue to be at the forefront in terms of identifying new opportunities in this challenging and dynamic environment.\"\n\"We are excited about the acquisition of OOBHK and the synergies that it presents,\" said Parkson Yip, Vice President of SEII. \"OOB's strength and experience in China, with the largest internet population in the world, will help EC Rent further expand its reach in this market. SEII and OOBHK will continue to look for acquisition targets in the resource sharin...