iFAST gets HK nod to buy stockbroker Winfield Securities
iFAST Corp has received approval from the Securities and Futures Commission of Hong Kong to buy stockbroking firm Winfield Securities.
iFAST, which operates online mutual-fund retail platform Fundsupermart.com, announced in June that it would buy Winfield for about HK$14.7 million (S$2.67 million), comprising HK$4.7 million and Winfield's net asset value at completion. The purchase price, of which HK$500,000 has been paid, will be financed using iFAST's initial public offering proceeds.
iFAST shares closed at S$1.415 on Wednesday, before the approval was announced.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
CSE Global bags data centre contract extension worth US$36.5 million
Keppel DC Reit reports 13.7% lower Q1 DPU of S$0.02192 amid loss allowances
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece
Singapore shares open higher on Friday; STI up 0.2%
TSMC estimates losses of US$92.4 million due to Taiwan earthquake
Singapore loses ‘world’s best airport’ crown to Qatar