GHY Culture & Media has acquired the remaining 30% of shares from iQIYI to become the full owner of Uni-Icon.
Previously a joint venture between GHY and iQIYI, the acquisition and the cessation of Uni-Icon was mutually agreed upon between both parties, with a consideration paid by GHY for the sale shares at a nominal cash consideration of RMB1.00 (19 cents) per share.
As at Dec 31, 2024, the book value and net tangible asset value of Uni-Icon is $22,123. According to GHY, there is no open market value for the shares acquired as they are not publicly-traded.
The acquisition is not expected to have any material impact on the consolidated net tangible assets and consolidated earnings per share of GHY for the FY2025 ending Dec 31.
Shares in GHY Culture & Media closed flat at 16 cents on Jan 17.
