China’s Future FinTech acquires Hong Kong-based Nice Talent Asset Management

By Edil Corneille

Future FinTech, a blockchain e-commerce and financial technology company, has entered into a Share Exchange Agreement with Joy Rich to acquire 90 per cent of the issued and outstanding shares of Nice Talent Asset Management (NTAM), a Hong Kong-based asset management company.

NTAM is licensed under the Securities and Futures Commission of Hong Kong (SFC) to carry out security advising and asset management regulated activities. Its current business partners include major international banks and the management team of NTAM includes former senior executives of HSBC and certified public accountants of Hong Kong.

Shanchun Huang, Chief Executive Officer of Future FinTech enunciated, “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.”

Pursuant to the terms of the Agreement, the total purchase price for 90 per cent of equity interest in NTAM is HK$54,000,000 (approximately US$6,966,885). 40 per cent of the Purchase Price which is HK$21,600,000 shall be paid in shares of common stock of the company on the closing date. The remaining 60 per cent shall be paid according to the achievement of certain EBIT goals by NTAM in 2020 and 2021.

Chan Siu Kei, Chief Executive Officer and Director of NTAM enthused, “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. “