AGM Group Holdings signs Letter of Intent for Hong Kong Type 1, 2, 4, 5, and 9 Licenses
AGM Group Holdings, an application software company providing accounting and ERP software, fintech software and website service, has announced that, through its wholly-owned subsidiary, AGM Technology Limited, the Company has entered into a letter of intent (LOI) to acquire 100% equity interest in Safe Gold and its wholly owned subsidiary Safe Gold Securities and Futures Limited.
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, AGM Group reports in a press release.
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 HKD8.5 million, deducting a due from shareholders of HKD14 million, subject to certain adjustments and definitive agreements at the closing, says AGM Group.