Compare
Compare Mobile PhonesCompare LaptopsCompare TabletsCompare CamerasCompare TelevisionsCompare Power banksCompare Smart watchesCompare Air conditionersCompare Washing machinesCompare RefrigeratorsCompare Fitness bandsCompare EpilatorsCompare HaircurlersCompare TrimmersCompare HairstraightenersCompare HairdryersCompare Bluetooth SpeakersCompare HeadphonesCompare Air PurifiersCompare Water PurifiersCompare IronsCompare FansCompare Air FryersCompare Air CoolersCompare Hand BlendersCompare Food ProcessorsCompare Room HeatersCompare Chimneys
Top Searches
- Gadgets Now
- News
- Tech News
- Shares in China's 360 Security slump after founder's divorce deal
Shares in China's 360 Security slump after founder's divorce deal
FacebookTwitterLinkedinEMail
Shares in China's 360 Security slump after founder's divorce deal
Reuters / Updated: Apr 6, 2023, 09:02PM IST
FacebookTwitterLinkedinEMail
360 Security Technology claims to be the largest provider of Internet and mobile security products in China. Founded in 2005, the company has introduced products like 360 Total Security, 360 Mobile Security, 360 Security browsers and more. The company also offers comprehensive security services and also offers security training to state agencies.
Shares in 360 Security, China's largest provider of cybersecurity products, fell by as much as 7.8%, its biggest one day fall since February.
The company on Tuesday issued a statement saying Zhou would give a 6.25% share to Hu Huan, which was worth about 9 billion yuan ($1.3 billion) based on 360 Security's closing price that day.
Thursday marked the first trading after the announcement, as markets were shut on Wednesday for a public holiday.
Prior to the divorce, Hu had no shares in the company. The marriage ended on friendly terms, and their separation will not affect the company's operations, the company said.
Zhou founded 360 Security Technology in 2005. The company was listed on the New York Stock Exchange in 2011 and returned to Chinese stock markets in 2018 through a back door listing.
He will remain as the company's controlling shareholder after the transfer, with a 5.24% stake under his name, and a 46.14% stake through Tianjin Qixin Zhicheng Technology Co. Ltd., whose largest shareholder is Zhou.
360 Security's share price has nearly tripled so far this year. The company has said it is working on artificial intelligence technologies, latching on to a buzz created by hit U.S. chatbot ChatGPT.
Follow Gadgets Now on Facebook and Twitter. For the latest news, tech news, breaking news headlines and live updates checkout Gadgetsnow.com
FacebookTwitterLinkedin
end of article
Trending Gadgets
Trending Topics
Trending Stories
Brands
Mobiles
Move to Top