58.com Inc. (NYSE:WUBA) signed an agreement to acquire 8.28% stake in 5I5J Holding Group Co., Ltd. (SZSE:000560) from Beijing Hezhao Jiusheng Investment Co., Ltd, Tibet Shengju Investment Co., Ltd. and Kunming Handing Century Enterprise Management Co., Ltd. for CNY 1.1 billion on June 22, 2018. The consideration will be paid in cash. Under the terms of the agreement, 150 million shares will be acquired at CNY 7.12 per share.

Beijing Hezhao Jiusheng Investment Co., Ltd, Tibet Shengju Investment Co., Ltd. and Kunming Handing Century Enterprise Management Co., Ltd. will sell 4.42%, 1.93% and 1.93% stake and will receive CNY 569.6 million, CNY 249.2 million and CNY 249.2 million as consideration respectively.