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Aisidi to Sell App Store Subsidiary mAPPn to Controlling Shareholder

Aisidi, 8/22/17

Shenzhen-based mobile phone wholesale distributor Aisidi (002416.SZ) has announced that it will sell its wholly owned mobile app store operator mAPPn Technology to Sinomaster (Group) Investment in order to improve its industry position and focus on its core business.

Shenzhen-based Sinomaster is Aisidi's controlling shareholder with a 52.5% stake. After the transaction, Aisidi will no longer hold any equity in mAPPn, which has a valuation of RMB 142 mln.

mAPPn operates mobile app store Gfan Market, and also distributes various mobile games.

Keywords: M&A Sinomaster valuation Aisidi app store 002416.SZ mAPPn Gfan mobile gaming

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