Asiavets Financial News App reported that Gofintech Innov (00290) announced that all conditions precedent have been met, and the acquisition has been completed in accordance with the terms of the purchase agreement on October 18, 2024.

After completion, the Company will beneficially own 3.064 billion target shares through the purchaser (a wholly-owned subsidiary of the Company), representing approximately 29.13% of the target company's equity as of the date of this announcement. In addition, upon completion, the target company Wealthink AI Investments Limited (01140) will become an associated company of the Group; the financial performance of the target group will be accounted for as an investment in the associated company in the comprehensive financial statements of the Group; and the Company will become the major shareholder of the target company.

The consideration has been paid by issuing consideration shares (i.e., 0.34 billion shares) at the issue price (approximately HKD 0.89 per share) as approved by the Company at a special general meeting of shareholders. The total par value of the consideration shares is HKD 34.0053 million.