Planetree International Development (HKG:0613) unit Planetree Lavie agreed to acquire Warpdrive Technology from Dai Bin for HK$7.5 million, a Thursday Hong Kong bourse filing said.

The consideration will be settled through the issue of 15 million shares at HK$0.5 apiece. The shares represent around 1.56% of the financial services provider's enlarged issued share capital.

The company is also proposing to appoint Dai as an executive director following the acquisition as he can help the firm secure a favorable position within AI chip related and semiconductor businesses.

Warpdrive Technology provides ancillary services for AI chip firm Zhejiang Warpdrive Technology.