Sina Hong Kong Limited (the “Offeror”) has announced a conditional voluntary cash partial offer to acquire 32,500,000 shares in Tian Ge Interactive Holdings Limited (“Tian Ge Interactive,” stock code: 1980). The Offer Price is set at HK$0.70 in cash for each share, representing approximately 2.93% of Tian Ge Interactive’s issued share capital. The Offeror currently holds about 27.04% of Tian Ge Interactive’s shares.

According to the offer document, acceptances under this partial offer will be scaled down pro rata if they exceed the 32,500,000 share limit. The acceptance must remain open for at least 28 days from the dispatch date, and settlement of valid acceptances will be made within seven business days after the final closing date. The partial offer carries a condition that at least 32,500,000 shares must be tendered by its first closing date for it to proceed.

The Offeror has emphasized that the partial offer provides shareholders with the option to realize part or all of their holdings. Should the offer become unconditional, qualifying shareholders who validly accept may see part of their acceptance allocated, depending on the final level of participation. Following completion, Sina Hong Kong Limited intends for Tian Ge Interactive to remain listed on the Main Board of the Hong Kong Stock Exchange and does not plan to change the offeree’s principal operations or make substantial adjustments to its workforce.