Understanding the Market | WANDA HOTEL DEV rose over 20% during the session as the company exchanged 16 apartments in Chicago for the copyright of Sony's "The Octonauts" IP
WANDA HOTEL DEV rose over 20% during the session, and as of the time of publication, it was up 15.11%, trading at HKD 0.16, with a transaction volume of HKD 3.0042 million. In terms of news, WANDA HOTEL DEV announced that its indirectly held non-wholly owned subsidiary Wanda Chicago has reached an agreement with CPE, a subsidiary of Sony Japan, to exchange 16 apartment units in Chicago for a 49% stake in the target company Vampire Squid Productions. The target company, as the IP copyright operator of "The Octonauts," possesses strong intellectual property resources. WANDA HOTEL DEV stated that the company has been seeking buyers for the 37 apartment units held by Wanda Chicago. Through this transaction, the company can enter the popular cultural intellectual property operation field, break through traditional business boundaries, and achieve business diversification and expansion. This transaction is also consistent with the company's initial plan to seek and identify suitable investment opportunities in the domestic and international cultural tourism industry
According to the Zhitong Finance APP, Wanda Hotel Development (00169) rose over 20% during the trading session, and as of the time of writing, it has increased by 15.11%, trading at HKD 0.16, with a transaction volume of HKD 3.0042 million.
In terms of news, Wanda Hotel Development announced that its indirectly non-wholly-owned subsidiary Wanda Chicago has reached an agreement with CPE, a subsidiary of Sony Japan, to exchange 16 apartment units in Chicago for a 49% stake in the target company, Vampire Squid Productions. The target company, as the IP copyright operator of "The Octonauts," possesses strong intellectual property resources.
Wanda Hotel stated that the company has been seeking buyers for the 37 apartment units held by Wanda Chicago. Through this transaction, the company can enter the popular cultural intellectual property operation field, break through traditional business boundaries, and achieve business diversification and expansion. This transaction is also consistent with the company's initial plan to seek and identify suitable investment opportunities in the domestic and international cultural tourism industry
