JFIN - Jiayin Group to acquire equity interests in Shanghai Bweenet Network Technology

On April 1, Shanghai Jiayin Finance Technology (Jiayin Finance), a wholly consolidated variable interest entity of Jiayin Group (JFIN) entered into a  definitive agreement to acquire 95% equity interests of Shanghai Bweenet Network Technology (Shanghai Bweenet), a limited liability company incorporated in the PRC.Pursuant to the agreement, Jiayin Finance to subscribe for certain equity interests of Shanghai Bweenet and acquire certain equity interests held by current shareholders of Shanghai Bweenet, for an aggregate consideration of RMB95M.On completion, Jiayin Finance will own 95% of the equity interests of Shanghai Bweenet.The Company expects that the investment in Shanghai Bweenet will provide more business opportunities for its future business development.Shares are up 6.6% PM.

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Jiayin Group to acquire equity interests in Shanghai Bweenet Network Technology