In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Kongzhong Corp (NASDAQ:KZ) reported that Fang Shin has picked up 159,366,880 of common stock as of 2016-12-07.
The acquisition brings the aggregate amount owned by Fang Shin to a total of 159,366,880 representing 8.46% stake in the company.
For those not familiar with the company, KongZhong Corporation is a provider of digital entertainment services for consumers in the People’s Republic China (PRC). The Company provides feature phone mobile games on the networks of China Mobile. It operates in three segments: Internet games, mobile games and wireless value-added services (WVAS). It provides interactive entertainment, media and other interactive services to mobile phone users in China.
A glance at Kongzhong Corp (NASDAQ:KZ)’s key stats reveals a current market capitalization of $322.66 million based on 1.88 billion shares outstanding and a price at last close of $6.85 per share.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity. We’ll be keeping an eye on Kongzhong Corp (NASDAQ:KZ) as things move forward to see if its progress aligns with these transactions.
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