(22 January 2017, Hong Kong) Credit China FinTech Holdings Limited ("Credit China FinTech" or the "Company"; together with its subsidiaries, the "Group", stock code: 8207), a leading integrated FinTech service provider in China, announced that the Group will form a consortium to acquire 36.58% equity interest in Ping An Securities Group (Holdings) Limited (stock code: 231) ("Ping An Securities") from its major shareholders at HK$ 0.096 a share in cash. Upon completion, the consortium will make a conditional mandatory general cash offer for all the issued shares of Ping An Securities. This strategic investment will enable the Group's FinTech services to connect and integrate with Hong Kong's financial markets and build a sound foundation for the Group's internationalization strategy.
Ping An Securities was established in 1970 by Dr. Winnie Leung, the wife of Mr. Kenneth Leung, CEO of Kwong On Bank. Ping An Securities was also a founding member of the Far East Stock Exchange. Ping An Securities (CE Number: ABS838) is a licensed corporation by the SFC to carry out Type 1 (dealing in securities), Type 4 (advising on securities), Type 6 (advising on corporate finance) and Type 9 (asset management) regulated activities in Hong Kong. The Group's current FinTech businesses are primarily based in China and is set to expand to Southeast Asia. The Group intends to leverage on Ping An Securities, a regulated entity with multiple licenses, to generate synergies by introducing innovative FinTech services to the local Hong Kong market and potential cross-border connectivity with the Group's businesses in China as well as overseas markets, further enhancing the Group's growing FinTech services ecosystem.
Mr. Phang Yew Kiat, Vice-Chairman and CEO of Credit China FinTech, says: "Ping An Securities possesses a broad suite of licenses for carrying out regulated activities in Hong Kong. This transaction marks the second significant investment outside China for Credit China FinTech. This strategic investment will further strengthen our product offerings and enable us to provide comprehensive solutions to our customers across Asia. Ping An Securities product offerings are valuable resources that we believe will generate significant synergies with our existing businesses."~ End ~
About Credit China FinTech Holdings Limited (Stock code: 8207)
Credit China FinTech (Stock code: 8207.HK) is a leading integrated FinTech service provider in China with a focus on providing 24 x 7 financial services to SMEs and consumers in China through internet and mobile internet. The suite of FinTech services offered by the Group includes online third party payment, technology-enabled lending, online financial asset investment and supply chain financial services platforms.
Please subscribe to Credit China FinTech's HK wechat account to keep abreast of regular updates on the Group's business development.
Company website: www.creditchina.hk
Credit China FinTech's HK wechat account: creditchina8207
For enquiries, please contact: Fion Ng
Senior Investor Relations Manager Tel: (852) 3963 9172
Email: fion.ng@creditchina.hk
This press release is released by PR ASIA Consultants Limited, on behalf of Credit China FinTech Holdings Limited.
For more information or enquiries, please contact: Winnie Chan / Dorothy Ying / Sadie Lo / Anna Liu
Tel: (852) 3183 0257 / 3183 0241 / 3183 0260 / 3183 0248
Fax: (852) 2583 9138
E-mail: creditchina@prasia.net
Credit China Holdings Limited published this content on 22 January 2017 and is solely responsible for the information contained herein.
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