READEN HOLDING CORPORATION (OTC PINK: RHCO) ANNOUNCES THE ACQUISITION OF RAIKOKU AND EIEGO
Readen Holding Corporation (OTC PINK: RHCO), a Venture Capital Corporation which is active in the Fintech, Online Payment and E-commerce industries, today announced that it has acquired 51% shares of Raikoku Company Limited, a Strategic Multimedia Service Company in Hong Kong.
Formerly focused on Multi Media in Japan, Raikoku has recently acquired Eiego and engaged in New Media Ecosystem. Eiego is formed by a team of System Engineers and IT Specialists with over 20 years’ experience in internet business analysis, solution architecture design, cross platform integration, development and platform deployment across Asia Pacific region as well as Greater China. Eiego is also an expert in OTT video encoding and internet / mobile / satellite MCPC live channel contribution. It has provided solutions and services for multiple telecom / new media corporations, such as Smartone (Hong Kong/Macau), ChungHwa Telecom (Taipei), China Telecom (Greater China), MyTVSuper (OTT platform of TVB in Hong Kong) and Viu.com (OTT platform of PCCW in Hong Kong).
Currently Eiego is developing DynaMO, a new era marketing platform. It combined Passenger Counting Location Management System on minibus with Digital Signage, which serve multimedia contents and instant location information to passengers. It will also deploy Shop2Bus Multimedia Hub interacted with mobile platform by using Augmented Reality (AR) technology by the end of 2022. DynaMO has been utilized in one major minibus line in Hong Kong and will eventually expand to more minibus lines and other public transportation vehicles.
The acquisition of Raikoku shares will be done with new issued 5 million restricted shares of RHCO and 2.5 million share options, at the price of USD 0.11 per share. Eiego’s business and technologies will be in synergy with RHCO’s current business portfolio, especially OkeApp. DynaMO will automatically become a new marketing platform for OkeApp, and also serve as a broadcasting platform for OkeTV. Merchants of OkeApp will be promoted through this new channel on minibus as well as other public transportation vehicles. Eiego’s team will also provide strong technical support for RHCO’s Fintech, Online Payment and E-commerce sectors, with their integration and development capacity.
Richard Klitsie, CEO of RHCO stated, “The addition of Raikokua and Eiego really benefits RHCO in various aspects. Their experience in New Media and OTT brings so many possibilities to OkeApp’s content marketing strategies. And DynaMO would instantly expand OkeApp and OkeMerchants’ exposures to the public. Eiego’s team has already begun supporting our various projects on the IT front, and we are excited to work with them more closely, enhancing our current products and developing new things along the way. And the calculated share price of USD $0.11 as valuation shows that our share price is undervalued in the market.”
Readen Holding Corp. (www.readenholdingcorp.com) is a publicly traded Venture Capital Corporation, with major holdings in the Fintech Industry and has been increasing its investment in E-commerce and E-payment sectors, such as;
RHCO is a diversified holding company, with an operating history of over 30 years, which seeks opportunities to acquire and grow businesses that can generate long-term sustainable free cash flow and attractive returns, in order to maximize value for all shareholders. RHCO has subsidiaries and liaison offices in Europe and Asia.
For further information please contact RHCO at info@readenholdingcorp.com
or +852 3950 5911
The RHCO corporate email address is info@readenholdingcorp.com
The RHCO corporate website can be accessed at www.readenholdingcorp.com
The RHCO Twitter account can be accessed at https://twitter.com/readenrhco
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Readen Holding Corp. to accomplish its stated plan of business. Readen Holding Corp. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward- looking statements included herein, the inclusion of such information should not be regarded as a representation by Readen Holding Corp. or any other person.
Contact
Readen Holding Corp.
info@readenholdingcorp.com
+852 3950 5911
Readen Group, RHCO announcement