AGM Group Holdings Inc. Signs LOI to Acquire Hong Kong-Based Financial Services Company With Type 1, 2, 4, 5, and 9 Licenses

AGM Group Holdings Inc., an application software company providing accounting and ERP software, fintech software, and trading education software and website service, is pleased to announce that through its wholly-owned subsidiary, AGM Technology Limited, the Company has entered into a letter of intent (“LOI”) on August 7, 2020, with the shareholders of Safe Gold Financial Holdings Limited to acquire 100 percent equity interest in Safe Gold and its wholly-owned subsidiary Safe Gold Securities and Futures Limited.

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Safe Gold is a Hong Kong-based financial services company which, through its wholly-owned subsidiary Safe Gold SF, holds Hong Kong Financial Services Licenses Type 1 (Dealing of Securities), Type 2 (Dealing in Futures Contracts), Type 4 (Advertising on Securities), Type 5 (Advertising on Futures Contracts), and Type 9 (Asset Management). Safe Gold is also a participant and trading right holder of both HKEX and HKFE.

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Pursuant to the LOI, the total consideration of the proposed all-cash transaction is set to equal the combined net asset value for Safe Gold and Safe Gold SF as of June 30, 2020, plus a premium of HK$8.5 million, deducting a due from shareholders of HK$14 million, subject to certain adjustments and definitive agreements at the closing.

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The post AGM Group Holdings Inc. Signs LOI to Acquire Hong Kong-Based Financial Services Company With Type 1, 2, 4, 5, and 9 Licenses appeared first on AiThority.