The Noah Project to become a shareholder of Beat Holdings Limited
On April 25, 2018, Noah acquired three (3) million stock acquisition rights of Beat Holdings Limited, formerly known as Xinhua Holdings Limited.
Based on the total number of issued shares as of May 10, 2018 (15, 984, 481.79 shares of common stock and class A preferred stock), this holding ratio is equivalent to 15.8%.
Beat Holdings Limited is listed on Tokyo Stock Exchange’s Second Section (under code number 9399) and headquartered in Hong Kong, with regional offices operating in Singapore, Japan, Malaysia and Indonesia.
Beat Holdings Limited focuses on developing cloud-based messaging services, application software for smartphones, telecom and mobile advertising platforms. The Company is also engaged in providing digital health products and services: i.e. wellness services; wearable health care devices; medical information and data analysis; acquisition and licensing of intellectual properties (“IPs”) in digital health, blockchain technology and other high growth areas.
Since the successful initial coin offering held in early 2018, the Noah Project team has been engaged not only in implementing the Noah ecosystem, but also had an opportunity to contribute to the development of business in the field of blockchain, IT and intellectual properties.
With the purchase of the stock acquisition rights, thus, entering into the capital of Beat Holdings Limited, the Noah Project plans to go deeper into the implementation of their own products and technologies.