TIAN RUIXIANG Holdings Ltd Enters Into Memorandum Of Understanding To Acquire Licensed Insurance Broker In Hong Kong; No Financial Terms Disclosed

Benzinga ·  Jan 8 21:48

TIAN RUIXIANG Holdings Ltd (NASDAQ:TIRX) (the "Company"), a China-based insurance broker conducting business through its variable interest entity in China, today announced that TRX HongKong Investment Limited ("TRX HongKong"), a wholly-owned subsidiary of the Company, has entered into a Memorandum of Understanding (the "MoU") to acquire Peak Consulting Services Limited (the "Target"), a licensed insurance brokerage in Hong Kong. The proposed acquisition demonstrates the Company's strategic vision to expand into the Hong Kong insurance brokerage market.

Pursuant to the MoU, the proposed acquisition is conditional upon, among other things, that TRX HongKong completes a due diligence review of the Target and is satisfied with its findings.

Mr. Zhe Wang, Chairman and CEO of the Company commented: "We are excited about the proposed acquisition and the immense potential for the Company to expand into the Hong Kong insurance brokerage market, which can offer robust growth opportunities. This proposed acquisition aligns well with our long-term strategic vision of becoming a player in the global insurance brokerage industry."

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