Whole Easy Internet Technology Co., Ltd. (SZSE:002464) agreed to acquire Shanghai Tiantu Advertising and Communication Co., Ltd. from group of sellers for approximately CNY 740 million on June 30, 2018. Under the terms, Whole Easy Internet Technology Co., Ltd will pay CNY 444 million (60% of the total consideration) by issue 20.72 million shares as consideration shares at an issue price of CNY 21.43 per share and will pay CNY 296 million (40% of the total consideration) in cash. The cash consideration is funded by Whole Easy Internet Technology Co., Ltd through carry out a private placement to raise proceeds not exceed CNY 443.7 million to not more than 10 specific investors. Post-acquisition, Shanghai Tiantu Advertising and Communication Co., Ltd. will become a wholly owned subsidiary of Whole Easy Internet Technology Co., Ltd. As of December 31, 2017, Shanghai Tiantu Advertising and Communication Co., Ltd reported total assets of CNY 740 million, operating revenue of CNY 221.81 million and net assets of CNY 740 million. The deal is subject to the approval from the shareholders of the Whole Easy Internet Technology Co., Ltd at the meeting and China Securities Regulatory Commission. The transaction has been approved by the Board of Directors of Whole Easy Internet Technology Co., Ltd at the 36th meeting of the 4th directorate held on June 30, 2018. Haitong Securities Co., Ltd acted as financial advisor for Whole Easy Internet Technology Co., Ltd. Whole Easy Internet Technology Co., Ltd. (SZSE:002464) cancelled the acquisition to acquire Shanghai Tiantu Advertising and Communication Co., Ltd. from group of sellers on June 30, 2019.