Sugar Dragon Limited is an Australian registered Company with a 72.5% interest in Okmno, the holder of two non-exclusive licensing agreements with King.com for the manufacture, branding and distribution of Candy Crush branded confectionery in Taiwan, Hong Kong, Macau, mainland China and South Korea. King.com has not granted any other such licences in these jurisdictions.
Based in Hong Kong, Okmno is a wholesaling business which contracts the manufacture and distribution of the confectionery products to manufacturers in Germany and mainland China. The majority of Okmno's revenue (approximately 65%) is derived from sales to wholesale customers in South Korea and Taiwan. Okmno also receives revenue from a royalty on sales in mainland China and Hong Kong. The confectionery products manufactured and distributed for and by Okmno are branded in line with the "Candy Crush Saga" and "Candy Crush Soda" smart phone applications which are owned by King.com.
Candy Crush is the immensely popular platform developed by King that has taken the online world by storm and thrust King to a $6 Billion market capitalisation (NYSE: KING).
Sugar Dragon holds a first right over the remaining 27.5% interest in Okmno.
It is anticipated that SDC will list on the ASX during March 2016.