Hong Kong listed China-based AGTech has updated stakeholders regarding its latest acquisition of controlling shares in Ant Bank Macau.
AGTech, through its affiliate mFinance, has signed a Share Transfer Agreement with Star N Cloud, which has conditionally agreed to sell the shares representing 33.3% of issued share capital of Ant Bank (Macau), to ACTech’s mFinance for MOP133.2m (US$16.65m). About 30% of the consideration (approximately MOP39.9m) would be distributed to AGTech Macau, an indirect wholly-owned subsidiary of AGTech.
AGTech’s has also informed that Ant Bank (Macau) has made all the necessary registrations and have received the relevant approvals, as well as “written approval of AMCM” to proceed. Once the deal is closed, Ant Bank (Macau) will become an indirect non-wholly owned subsidiary of AGTech.
In another announcement, Macau Pass, an indirect wholly-owned subsidiary of AGTech, was required to publish its unaudited trial balance for the second quarter of 2024.
The total income (inclusive of both revenues from core businesses and non-core income items) and the total expenses of Macau Pass amounted to approximately MOP166.6m and approximately MOP162.4m respectively. However, the group has reminded stakeholders that the report is still subjected to audit review. The above results would be consolidated into the group’s final results.
AGTech's last update had the company announcing its success in winning a bid for a contract supplying sports lottery terminals in China.
AGTech's success includes supplying its new dual, touchscreen lottery terminals to the Chinese provinces of Guizhou, Shanghai and Hebei and introducing new instant win games, launched in partnership with Chinese logistics firm SF Holdings across Shenzen, Nanchang, Changsha and Nanjing.
