CCFH, a Singapore-based investment holding company, has agreed to acquire British Virgin Islands-based Mercury Capital Asset Management, which offers investment products across various asset class through multiple distribution channels and partnerships, in China.
CCFH will pay $2.8m, in the form of new shares at 1.75 shares apiece, for Mercury Capital.
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Following the acquisition, the key executives of Mercury Capital will be appointed as executive directors to the board of the directors of CCFH.
"The company is seeking to diversify its business for continued growth and success, and has identified the business of corporate finance and financial services, comprising investment business, fund management, wealth advisory, and asset allocation services to be business activities that could provide opportunities for diversification of its revenue streams and growth," CCFH said.
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