China May Lift Exit Ban on Manus Founding Team as Breakup of Meta's $2 Billion Acquisition Advances
- PANews, citing the Financial Times, reported on August 15 that Chinese regulators may lift exit restrictions on Manus CEO and co-founder Xiao Hong and other executives after Manus and Meta reached a split agreement.
- Xiao Hong is expected to return to Singapore soon if the arrangement proceeds.
- Xiao Hong, chief scientist Ji Yichao, and others were summoned to Beijing in March and were barred from leaving China during the review of Meta's roughly $2 billion acquisition of Manus.
- The acquisition has been suspended by the National Development and Reform Commission and other departments, and a breakup transaction is now being advanced.
- Under the proposed deal, most original shareholders, including Tencent, ZhenFund, HSG, and management, would buy back shares at a valuation close to $2 billion, while minority shareholders such as Benchmark would not participate, with Tencent taking over their equity.
- After the transaction, Manus would operate independently from Meta, keep its headquarters in Singapore, and report annual recurring revenue above $300 million.
PANews reported, citing the Financial Times, that Chinese regulators may lift exit restrictions on Manus co-founder and CEO Xiao Hong and other executives after Manus and Meta reached a split agreement. Xiao Hong is expected to return to Singapore soon if the plan moves forward.
The report said Xiao Hong, chief scientist Ji Yichao, and others were summoned to Beijing in March and were barred from leaving China while regulators reviewed Meta's roughly $2 billion acquisition of Manus. The deal has since been suspended by the National Development and Reform Commission and other authorities.
A breakup transaction is now being advanced. Most original shareholders, including Tencent, ZhenFund, HSG, and management, are expected to buy back shares at a valuation close to $2 billion, while minority shareholders such as Benchmark are not expected to participate, and Tencent would take over those stakes.
If completed, Manus would operate independently from Meta, keep its headquarters in Singapore, and remain under Tencent's minority ownership. The report said regulators indicated that once the split plan meets requirements, Manus' business operations would not be affected. The development is likely to be neutral to mildly positive for related equities, particularly Tencent, if the restructuring is completed without further disruption.
中国或解除 Manus 创始团队出境限制，Meta 20 亿美元收购拆分进展加快
PANews援引《金融时报》报道称，在 Manus 与 Meta 达成拆分协议后，中国监管部门可能解除 Manus 联合创始人兼 CEO 肖弘及其他高管的出境限制。若该方案继续推进，肖弘预计将很快返回新加坡。
报道称，肖弘、首席科学家季逸超等人曾在3月被召至北京，并在监管部门审查 Meta 约20亿美元收购 Manus 期间被限制离境。此后，这笔收购已被国家发展改革委等部门暂停。
目前，相关方正在推进一项拆分交易。包括腾讯、真格基金、HSG 和管理层在内的大多数原始股东，预计将按接近20亿美元的估值回购股份；Benchmark 等少数股东预计不参与，其持股将由腾讯接手。
如果交易完成，Manus 将独立于 Meta 运营，总部仍设在新加坡，并保持腾讯的少数股权。报道称，监管部门表示，只要拆分方案满足要求，Manus 的业务运营不会受到影响。就市场而言，这一进展对相关股票情绪可能偏中性至略偏利好，重点在腾讯等相关股权持有方。