- Future FinTech ( NASDAQ: FTFT ) announced that its wholly owned subsidiary FinTech (Hong Kong) signed a Share Transfer Agreement with Hong Kong-based Alpha Financial for acquiring its wholly owned subsidiaries Alpha International Securities and Alpha Information Service Shenzhen.
- Alpha Securities reports 60K+ customer accounts and since 2020, it has underwritten 29 IPOs in Hong Kong.
- FTFT HK agreed to acquire all of the issued and outstanding shares of Alpha HK and Alpha SZ from Alpha Financial in cash for a price of HK$15.6M; 50% of purchase price is to be paid within 5 working days after agreement signing and remaining within next 5 days.
- "We believe that the acquisition will be synergistic with Nice Talent Asset Management, our 90%-owned asset management subsidiary also based in Hong Kong, as well as other financial services businesses that we are developing. We believe that Alpha HK could also play an important role in our continued transformation into a diversified fintech enterprise that is international in scope," CEO Shanchun Huang commented.
For further details see:
Future FinTech acquires Alpha International Securities (Hong Kong)