iFast seeks Greater China investors to grow business

Singapore

IFAST Corp could see its stake in its Greater China business diluted by 15 per cent, with the wealth management firm now looking for investors.

It plans to use the potential proceeds to grow its business in Hong Kong and mainland China, such as through a planned virtual banking business in Hong Kong, the board said on Tuesday. iFast had earlier disclosed that it has applied for a virtual banking licence in that territory.