Fullshare Holdings Limited Invests HK$140 million to Support the Development of Healthcare Finance Business
Jul 23, 2016
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(24 July, 2016, Hong Kong) Fullshare Holdings Limited (“Fullshare Holdings” or the “Company”, which together with its subsidiaries, is referred to as the “Group”; SEHK stock code: 607), is pleased to announce that, on 22 July 2016, a wholly owned subsidiary of the Company entered into an agreement with BaoQiao Partners Capital Limited and Ms. Lin Wai Yan to acquire companies which are engaged in financial advisory and asset management business for a total consideration of HK$140 million. The companies to be acquired are expected to concentrate on financial advisory business, provide support and advice to the Group in the development of healthcare financial business and financial activities.
Upon completion of the transactions, Fullshare Holdings will indirectly own companies which are licensed to conduct Type 1 (dealing in securities), Type 4 (advising on securities), Type 6 (advising on corporate finance) and Type 9 (asset management) regulated activities under the Securities and Future Ordinance. In addition, the Company will own a licensed money lender under the Money Lenders Ordinance of Hong Kong.
Mr. Ji Changqun, Executive Director, Chairman and Co-CEO of Fullshare Holdings said “Fullshare Holdings has commenced its investment business since 2015 to diversify its business and seize opportunities for investment. The Group thinks that the acquisition will be conducive to the development of its healthcare finance business. Meanwhile, the Group will continue its strategic investment in global premium brands, projects and companies in the field of medical healthcare to sustain growth.”
Pursuant to the sale and purchase agreement between the Company and BaoQiao Partners, the Company will settle the payment with HK$126 million in cash and by allotting and issuing its new shares to BaoQiao Partners. Upon completion of the transactions, BaoQiao Partners will own 0.17% of the enlarged share capital of the Company. Pursuant to the sale and purchase agreement with Ms. Lin Wai Yan, the Company will pay HK$14 million in cash to her.