Future FinTech Group Inc. (FTFT): M&A transaction — Future FinTech completes acquisition of Alpha International Securities for ~$2M

Future FinTech Group Inc.

Acquired 100% of Alpha International Securities (HK) and Alpha SZ for HK$15.66M (~$2.0M) in cash; closed Nov 7, 2023.
Target holds Type 1,2,4 HKSFC licenses; over 60,000 registered users; has underwritten 29 IPOs and 10 bonds since 2020.
Entities renamed FTFT International Securities and Futures Ltd and FTFT Information Services (Shenzhen) Co. Ltd.
Deal creates synergies with FTFT's existing Hong Kong asset management, UK remittance, and crypto mining units.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Future FinTech Group Inc. completed an acquisition involving Alpha Financial Limited for HK$15,659,949 (approximately $2,007,686) (closed 2023-11-07).

Action: acquisition
Counterparty: Alpha Financial Limited
Consideration: HK$15,659,949 (approximately $2,007,686)
Closing: 2023-11-07

Exact text from the filing

On November 7, 2023, Future FinTech (Hong Kong) Limited (“Buyer”), a company incorporated in Hong Kong and a wholly owned subsidiary of Future FinTech Group Inc. (the “Company”), completed its acquisition of 100% of the issued and outstanding shares of Alpha International Securities (Hong Kong) Limited, a company incorporated in Hong Kong ("Alpha HK") and Alpha Information Service (Shenzhen) Co., Ltd., a company incorporated in China (“Alpha SZ”) from Alpha Financial Limited (“Seller”) for a total of HK$15,659,949 (approximately $2,007,686), pursuant to a Share Transfer Agreement (the “Agreement”) dated February 27, 2023.

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31 m&a transactions filed in the last 30 days. Browse all m&a transactions →

Future FinTech Group Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-085581

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