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.
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