Future FinTech acquires Nice Talent Asset Management
In a recent announcement made by Future FinTech Group Inc. - a leading blockchain e-commerce and financial technology company - the company details its recent acquisition of Nice Talent Asset Management.
As part of the acquisition the company has entered into a Share Exchange Agreement with Joy Rich Enterprises Limited to acquire 90% of the issued and outstanding shares of Nice Talent Asset Management Limited - a Hong Kong-based asset management company.
Nice Talent Asset Management Limited is licensed under the Securities and Futures Commission of Hong Kong to conduct regulated activities in 'Type 4: Advising on Securities' and 'Type 9: Asset Management.'
Currently the company’s partners include major international banks, with the management team including former senior executives of HSBC and certified public accountants of Hong Kong. As a result the company benefits from rich experience in asset management, investment advisory and extensive contacts in the industry.
Facts about the acquisition
- Total purchase price for 90% of equity interest in Nice Talent Asset Management Limited US$6,966,885
- 40% of the total purchase price will be paid in shares of common stock of the company
- 60% will be paid according to the achievement of certain EBIT goals
"We are passionate about identifying and pursuing the competitive partner in the field of fintech and boutique financial services. This acquisition marks a significant step forward in Future FinTech's ongoing global expansion into innovative financial services. The Company will further explore and develop the new platform to offer asset management and investment consulting services for corporate customers and high net-worth professional investors in Hong Kong,” commented Mr. Shanchun Huang, Chief Executive Officer of Future FinTech.
"We are excited to move forward with this highly strategic partnership with Future FinTech. Our business focus is to work alongside with our clients to help them grow their wealth and achieve their investment goals. In uncertain times like now, we specialize in uncovering potential sector winners and opportunities, while aligning with clients' interests and offering tailor-designed and flexible investment strategies. We will leverage the additional resources, technology and platform provided by FTFT to further develop our business in Hong Kong and globally,” added Mr. Chan Siu Kei, Chief Executive Officer and Director of NTAM.
About Future FinTech Group Inc.
Founded in 1998, Future FinTech Group Inc. is a leading blockchain e-commerce and financial technology company. The group provides its customers with: a blockchain based online shopping mall platform known as Chain Cloud Mall; a cross border ecommerce platform known as NONOGIRL; an incubator for blockchain based application projects; and a digital payment system known as DCON.