Second largest shareholder of Opera Software sells stakes to Kunlun Tech

insider trading

(PageOne) – Two major shareholders, Keeneyes Future Holding Inc. and Kunlun Tech Limited, have entered into an agreement whereby Keeneyes has agreed to sell 19.5 million Opera shares (equivalent to 9.75 million ADSs) to Kunlun for $80.1 million.

The proposed transaction represents a change in direct ownership of 8.47% of Opera, although both Keeneyes and Kunlun are controlled by our Chairman and CEO, Yahui Zhou, and as such the proposed transaction does not affect ultimate control of Opera. The transaction is expected to close later this year and is subject to regulatory and corporate approvals.

On September 30, 2020, there were 230.1 million Opera shares outstanding, representing 115.1 million ADS equivalents.