On Wednesday, shares of The9 Limited (NCTY, Financial) opened over 6% higher and extended their gains to 7.36%, trading at $7.88. The rise in stock price follows the announcement of a joint venture agreement.
SHANGHAI , May 24, 2024 /PRNewswire/ -- The9 Limited (Nasdaq: NCTY) (the "Company"), an established Internet company, today announced that it agreed and signed a private placement agreement (the "Agreement") with Fine Vision Fund, established by Finewill Capital, an internationally renowned investment institution. The fund is dedicated to investing in global game projects and supporting the future of the game industry.
The9 Limited (Nasdaq: NCTY) ("The9"), an established Internet company, announced today that it has signed a definitive share purchase agreement (the "Agreement") with Kuaijin Shidai (Xiamen) Technology Co., Ltd. ("KuaiJin"), a company operating an unmanned retail store platform in China, to acquire 15% of KuaiJin through a combination of cash and restricted shares issued by The9.