Opera completes repurchase of shares from 360
Retrieved on:
Monday, October 17, 2022
OSLO, Norway, Oct. 17, 2022 /PRNewswire/ -- Opera Limited (NASDAQ: OPRA) ("Opera"), one of the world's major browser developers and a leading internet consumer brand, today announced that the share repurchase from its pre-IPO shareholder Qifei International Development Co. Ltd., a subsidiary of 360 Security Technology Inc. (601360:CH) (hereinafter, "360"), has closed.
Key Points:
- OSLO, Norway, Oct. 17, 2022 /PRNewswire/ -- Opera Limited (NASDAQ: OPRA) ("Opera"), one of the world's major browser developers and a leading internet consumer brand, today announced that the share repurchase from its pre-IPO shareholder Qifei International Development Co. Ltd., a subsidiary of 360 Security Technology Inc. (601360:CH) (hereinafter, "360"), has closed.
- 360 has sold all its 46.75 million shares, the equivalent of 23.4 million ADSs or a 20.6% ownership stake in Opera, and is no longer a shareholder in Opera.
- Opera will pay $128.6 million for the shares, or $5.50 on a per-ADS basis.
- Opera's total outstanding shares is thereby reduced to an ADS equivalent of 89,761,299 as of today, with each outstanding share now representing 26% more ownership of Opera than it did before the transaction closed.