the evening of August 18th, announced the unfamiliar street special committee under the board of directors of the independent group received the notification letter including co-founder, chairman and CEO Tang Yan, decided to withdraw the privatization of non binding offer submitted in June 23, 2015. After this announcement, Unfamiliar Street shares have been rising for several days. The United States Eastern time at 16:00 on August 23rd (Beijing time at 04:00 on August 24th), unfamiliar street rose 14.38% to close at $19.80, the market value approaching $4 billion.
in general, announced the privatization after the company’s share price performance will be more "boring", but the performance is an unfamiliar street recently. With the concept of live hot and enhance the performance continuously since July 2016, unfamiliar street rose, has returned to the issue price of $13.5; especially recently in the 2016 second quarter earnings rose in stimulus.
According to the latest
unfamiliar street earnings in the second quarter of 2016, unfamiliar street video broadcast services amounted to US $57 million 900 thousand, the rapid growth of revenue: total net revenues of $99 million, an increase of 222%, net profit of $15 million 400 thousand, an increase of 804%; not calculated in accordance with GAAP, unfamiliar street net profit of $23 million 200 thousand, an increase of 290%.
video broadcast is not only a commercial opportunity for us. This is an important development of our social ecosystem. As a new form of interaction brought about by the development of technology, video broadcast has changed the way young people through the Internet social and entertainment." Tang Yan also announced the recent announcement of the privatization of the tender offer to investors in particular the recent results, and depicts the opportunities and prospects for live in the future.
Tang Yan also said in the announcement, unfamiliar street the future will be more focused on implementing priority strategy, to further increase the number of users unfamiliar street to help drive the future size, revenue and profit, and strive to realize the maximization of shareholder value. Unfamiliar street in recent days, the continuous rise in the share price also reflects the capital market expectations and expectations for the future performance of unfamiliar street.