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READEN HOLDING CORPORATION (OTC PINK: RHCO) ANNOUNCES MAJOR SHARE TRANSACTION WITH COCOON HOLDINGS AFTER THE TRANSACTION WITH TIGER SUPER FUND

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HONG KONG, Dec. 22, 2021 /PRNewswire/ -- READEN HOLDING CORPORATION (OTC PINK: RHCO), a Venture Capital Corporation which is active in the Fintech, Online Payment and E-commerce industries, today announced another major share transaction. Readen Investment Limited, a major shareholder of RHCO, has sold 28,600,000 shares of RHCO to IT Star Limited.

IT Star Limited is fully owned by Cocoon Holdings Limited (0428.HK), a Venture Capital Company listed on the main board of HKEX. Cocoon Holdings held multiple equity investments in Hong Kong and US, including Tencent (0700.hk), Alibaba (9988.hk), China Mobile (0941.hk), SMIC (0981.hk) and AAC Tech (2018.hk), etc. The transaction is part of the synergy between RHCO and Cocoon Holdings, as both parties strongly believe in the unlimited growing capacity of RHCO's own OkeApp and OkePay. OkeApp is expected to sign up 8,000 and 10,000 new Merchants in 2022 as the continuously growing discount referral app launched earlier this year, and OkePay will be benefited from the 4 million monthly transactions brought by OkeApp. The two make a unique combo in Payment and Fintech sectors, and RHCO is expecting a major breakthrough in revenues. Due to their success, expansion plans are underway for other markets besides Hong Kong.

After the transaction, IT Star Limited would hold 8.6% of total RHCO shares issued. In an earlier announcement, RHCO also announced that Tiger Super Fund SPC has bought 32,703,152 shares of RHCO, holding 9.9% of total RHCO shares issued and would follow up with a loan to RHCO. Both investments have further solidified the funding of OkeApp and OkePay's development and their expansion to other markets.

Readen Holding Corp. (www.readenholdingcorp.com) is a publicly traded Venture Capital Corporation, with major holdings in the Fintech Industry and has been increasing its investment in E-commerce and E-payment sectors, such as;

www.okepay.biz
www.readies.biz
www.okepartners.com
www.neckermanndirect.eu
www.twopercent.hk
www.fligrofood.com

RHCO is a diversified holding company, with an operating history of over 30 years, which seeks opportunities to acquire and grow businesses that can generate long-term sustainable free cash flow and attractive returns, in order to maximize value for all shareholders. RHCO has subsidiaries and liaison offices in Europe and Asia.

For further information please contact RHCO at info@readenholdingcorp.com
or +852 3950 5911
The RHCO corporate email address is info@readenholdingcorp.com
The RHCO corporate website can be accessed at www.readenholdingcorp.com
The RHCO Twitter account can be accessed at https://twitter.com/readenrhco

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Readen Holding Corp. to accomplish its stated plan of business. Readen Holding Corp. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward- looking statements included herein, the inclusion of such information should not be regarded as a representation by Readen Holding Corp. or any other person.

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View original content:https://www.prnewswire.com/news-releases/readen-holding-corporation-otc-pink-rhco-announces-major-share-transaction-with-cocoon-holdings-after-the-transaction-with-tiger-super-fund-301449720.html

SOURCE Readen Holding Corporation

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