JST - Pintec Technology to acquire JST in all stock deal

Pintec Technology (PT) has entered into an agreement to acquire all of the equity interest in Shenzhen Jishengtai Technology (JST), a securities technology firm based in Shenzhen, China in an all stock deal.Under the deal, PINTEC will issue certain non-voting ordinary shares (the "Consideration Shares") to JST's original shareholders as the consideration for the sale of JST's equity interest, consisting of fixed base of 38,098,200 shares and an additional maximum of 45,098,200 shares.JST internally designs and fully implements an end-to-end broker supplied system, or BSS, for automatic order matching and execution of securities trading, which is the core backbone system of Riche Bright Securities, a Hong Kong securities brokerage firm that Pintec recently acquired.No assurance that the transaction will be consummated.Shares are up 30.3% PM.

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Pintec Technology to acquire JST in all stock deal