£30 million equity investment agreement
Summary by AI BETAClose X
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. The person responsible for arranging for the release of this announcement on behalf of the Company is Giles Willits.
15 December 2025
Intuitive Investments Group plc
("IIG" or the "Company")
£30 MILLION EQUITY INVESTMENT AGREEMENT TO FUND HUI10 PAPERLESS LOTTERY PLAY
IIG plc is pleased to announce that it has entered into an investment agreement with Helikon Investments, a UK Investment Manager, to provide up to £30 million in equity funding to finance Hui10 Inc's ("Hui10") Paperless Lottery Play roll-out.
Under the terms of the agreement, the equity funding will be drawn down in three tranches, each of which is subject to Hui10 achieving strategic milestones as follows;
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Milestone 1 - £5 million equity investment on the announcement of the signed contract with China Financial Certification Authority ("CFCA") representing go forward to paperless lottery pilot. |
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Milestone 2 - £7.5 million equity investment on the announcement of Ministry of Finance instruction to launch paperless lottery pilot. |
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Milestone 3 - £17.5 million equity investment on the announcement of Ministry of Finance instruction to launch paperless lottery nationwide. |
This agreement will provide Hui10 with financial resources to cement its position as the central technology partner in China's nationwide transition to digital lottery with China UnionPay and CFCA, by enabling Hui10 to:
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Deploy its "paperless lottery" UnionPay certified POS terminal infrastructure across China's 200,000+ lottery-only shops in compliance with Ministry of Finance policy; |
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Accelerate commercial partnerships through its omnichannel Lucky World TEAM CHINA and Lottery HongBao platforms; and |
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Expand its technology footprint via UnionPay's national POS terminal network and CFCA's certified digital authentication infrastructure. |
Under the agreement, the subscription price for Tranches 1 and 2 is the lower of: a 15% discount to the 30-day volume weighted average share price (VWAP) preceding announcement of the relevant milestone, or a pre-money fully diluted valuation of £200 million. Tranche 3 is the lower of: a 15% discount to the 30-day VWAP preceding announcement of milestone 3, or a pre-money fully diluted valuation of £400 million. Each tranche is determined on a Fully Diluted Basis, which includes all shares in issue and vested shares under existing warrant and incentive schemes as of the date of each relevant tranche. The agreement is subject to a long stop date of 31 August 2027.
Sir Nigel Rudd, Chairman of IIG plc, commented on the announcement:
"The combination of major institutional investment from Helikon, and state-endorsed partnerships such as the China Financial Certification Authority confirms Hui10's unique strategic position at the heart of China's lottery transformation and sports development. This funding gives Hui10 the financial resources to deliver at national scale, with both commercial reach and regulatory credibility. It is a major milestone for IIG and a validation of our strategy to invest in platforms with long-term growth potential."
Enquiries:
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Intuitive Investments Group plc Sir Nigel Rudd, Non-Executive Chairman Giles Willits, CEO
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Via FTI Consulting |
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Zeus James Hornigold / Dominic King |
+44 (0)20 3829 5000 |
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FTI Consulting Jamie Ricketts / Valerija Cymbal / Jemima Gurney |
+44 (0)20 3727 1000 IIG@fticonsulting.com |
About Intuitive Investments Group plc
IIG is an investment company seeking to provide investors with exposure to a portfolio concentrating on fast growing and / or high potential businesses operating predominantly in the UK, continental Europe, the US and APAC.
About Hui10 Inc.
Hui10 is a technology company involved in the digital transformation of the Chinese lottery. It's platform unlocks the market expansion of the Chinese lottery through increasing the number of people playing lottery from the current 10% participation level to target more than 30%. Hui10's platform is integrated into China's national interbank card settlement system and payment platform, UnionPay. Lucky World is an omnichannel commerce platform which provides China's existing 200,000 lottery only shops access to a wider fastmoving consumer goods product offering through its growing number of commercial partnerships with leading Chinese suppliers. Lucky World provides a solution for brands to tackle the global counterfeit crisis using its integrated Lottery HongBao digital solution with incentives, helping to build brand loyalty and trust.
About Helikon Investments Limited
Helikon Investments Limited is a UK headquatered Investment Manager, with offices in London and Milan, investing with a concentrated and value-driven approach in Europe and in selected emerging markets.
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