Davis Polk Advises iRena Group on Its Investment in Ourgame International

Davis Polk is advising iRena Group Co., Ltd. in connection with its proposed subscription of shares in Ourgame International Holdings Limited. Pursuant to the terms of the share purchase agreement, iRena Group has conditionally agreed to subscribe for newly issued  shares of Ourgame International for an aggregate consideration of approximately HK$119.7 million. The subscription is subject to a number of conditions precedent, including the approval of independent shareholders.

iRena Group and its subsidiaries are principally engaged in the operation of sporting events, provision of sports related leisure services and value-added services. Ourgame International is an online card and board game developer, and an operator and broadcaster of online and offline mind-sports events, tournaments, TV shows in China and globally. Shares of Ourgame International are listed on the Hong Kong Stock Exchange.

The Davis Polk corporate team includes partner Paul Chow and counsel Yang Chu. All members of the Davis Polk team are based in the Hong Kong office.