GoFintech Innovation (HKG:0290) purchased a 22.50% stake in CSOP Asset Management from Wealthink AI-Innovation Capital (HKG:1140) for HK$1.11 billion, according to a Tuesday filing with the Hong Kong Exchange.

The shares were sold at HK$0.79 apiece, the filing said.

Upon completion, GoFintech will hold 22.5% of CSOP Asset Management and will become a substantial shareholder in the target company. China Southern Asset Management will own 52.5%, and Kingston Smart will own 25% of the asset manager.

Wealthlink will then receive 1,405,063,292 GoFintech shares, equivalent to a 15.85% stake, the filing said.