PT - Pintec surges in early trade on RMB400M financing in equity transfer agreements

Pintech Technology Holdings' (PT) +6.8% PM, wholly-owned subsidiary Pintec (Yinchuan) Technology (the Transferee) entered into certain equity transfer agreements.Post this, Ningxia Fengyin Enterprise Management Consulting (the Transferor) agreed to transfer all the outstanding equity interests in Yinchuan Chuanxi Technology, to the Transferee, in exchange for a total consideration of RMB400M.Transactions were closed on Oct.22, 2020.Funds are intended for investment and acquisition in digital technology services, as well as general corporate purposes; and for strengthening balance sheet, liquidity and enhance financial flexibility.

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Pintec surges in early trade on RMB400M financing in equity transfer agreements