Business Daily Media

Men's Weekly

.

Completion of the Attainment of Controlling Stake in Ant Bank (Macao), Expanding Digital Financial Services in Macau and Globally

HONG KONG SAR - EQS Newswire- 3 September 2024 - AGTech Holdings Limited (HKEx stock code: 8279, hereinafter referred to as "AGTech") is pleased to announce that it has officially completed the attainment of the controlling stake in Ant Bank (Macao) Limited ("Ant Bank (Macao)") on September 2, 2024.

The Transaction was completed for MOP 243 million through the acquisition of existing shares and the subscription of new shares of Ant Bank (Macao). Upon completion of the Transaction, AGTech holds approximately 51.5% of the issued share capital of Ant Bank (Macao), making Ant Bank (Macao) an indirect non-wholly owned subsidiary of AGTech.

AGTech is an integrated technology and services company that is dedicated to providing electronic payment, lottery and local consumer services, with a focus on Chinese Mainland and Macau. In recent years, AGTech has been strengthening its infrastructure and platforms to support the digital transformation of financial services in Macau and globally. As a licensed bank in Macau, Ant Bank (Macao) utilizes its leading technology and innovative solutions to provide the market with safe, inclusive, and convenient digital financial services.

The completion of the Transaction will enhance synergy between AGTech's electronic payment services in Macau and Ant Bank (Macao)'s digital banking services. By integrating "payment plus inclusive finance" services with business scenarios and resources of the ecosystem, it will meet the diversified financial needs of the market, and foster the digital transformation of financial services in Macau. Through the synergies with AGTech's various business units in life services, cultural entertainment and e-commerce, coupled with Macau's leisure and tourism features, AGTech aims to create distinctive cross-border financial services to attract more cross-border tourists (who are eligible to receive such services) to visit Macau, thus supporting the economic development and growth of Macau.

According to the 2024 Policy Address by the Macau SAR Government, 2024 marks the first year of the implementation of the "1+4" moderate and diversified economic development strategy, with the modern financial services sector identified as a pivotal focus. The Government is committed to driving innovation in financial technology, using technology to bolster the financial sector's development. It actively supports financial institutions to offer wide-range and accessible financial services for micro, small and medium-sized enterprises in Macau. AGTech's attainment of the controlling stake in Ant Bank (Macao) represents a proactive alignment with this strategic direction.

Mr. Sun Ho, Chairman and CEO of AGTech, stated, "This acquisition is a milestone for AGTech. It reflects our commitment for the financial service sector of Macau and the broader digital economy, expanding our reach into the digital financial sector. Furthermore, it aligns with the Macau SAR government's '1+4' planning and drives innovation of the modern finance, injecting new vitality into financial technology innovation and economic diversification in Macau and globally." By completing the Transaction, AGTech's business scope will expand from digital payment services and digital local consumer services to digital financial services.

Hashtag: #AGTech

The issuer is solely responsible for the content of this announcement.

News from Asia

VinFast Indonesia to expand dealership network to 85 showrooms nationwide

JAKARTA, INDONESIA - Media OutReach Newswire - 26 July 2025 - VinFast, the Vietnamese Nasdaq-listed EV manufacturer, has officially signed agreements with 20 new dealership partners during th...

VinFast Indonesia continues to expand nationwide service workshop network

JAKARTA, INDONESIA - Media OutReach Newswire - 26 July 2025 - VinFast, the Vietnamese Nasdaq-listed pure-electric vehicle manufacturer, today announced the signing and implementation of strategic ...

HKSTP Takes Nine Game-Changing AI Tech Ventures to WAIC 2025 to Advance China's AI Plus Vision in Transforming Business and Industry

HONG KONG SAR / SHANGHAI, CHINA - Media OutReach Newswire - 27 July 2025 - Hong Kong Science and Technology Parks Corporation (HKSTP) is embarking on a mission to advance China's AI Plus vision wi...

Vietfood & Beverage - Propack Vietnam 2025: The Biggest International F&B Exhibition in Vietnam

HANOI, VIETNAM - Media OutReach Newswire - 28 July 2024 - From August 7-9, 2025, Vietfood & Beverage - Propack Vietnam 2025 - The biggest international F&B exhibition in Vietnam will offic...

Jollibee Group Evolves its Corporate Brand to Help Power Global Growth

Brand update brings to life its global purpose and positioning as a unified group of brandsMANILA, PHILIPPINES - Media OutReach Newswire - 23 July 2025 - The Jollibee Group, one of the world's fas...

Taiwan Cybersecurity Day Returns to Thailand — Showcasing Solutions for Thai Enterprises

TAIPEI, TAIWAN - Media OutReach Newswire - 28 July 2025 - As global threats become increasingly sophisticated, cybersecurity has become essential for business continuity and digital trust. Taiwan ...

AIA Hong Kong continues to lead the insurance industry with the most market No.1* in Q1 2025

HONG KONG SAR - Media OutReach Newswire - 28 July 2025 - AIA Hong Kong has once again led the industry with the most market No.1 in the first quarter of 2025, according to the Provisional Statisti...

Aifeex Accelerates Global Strategy with Seven AI Ecosystems to Lead the Future of AI Finance

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 28 July 2025 - On July 22, 2025, Aifeex hosted the “2025 Global Artificial Intelligence Summit” in Kuala Lumpur, unveiling its strategic layout o...

YBUOJ Responds to BaFin Announcement, Reaffirms Compliance Credentials and Global Regulatory Commitment

COLORADO, USA - Media OutReach Newswire - 28 July 2025 - YBUOJ has issued an official response to a recent notice from the Federal Financial Supervisory Authority of Germany (BaFin), which alleged...

AsiaInfo Technologies Integrates with NVIDIA Omniverse to Accelerate Smart Manufacturing Transformation

BEIJING, CHINA- Media OutReach Newswire - 28 July 2025 - AsiaInfo Technologies Limited ("AsiaInfo Technologies" or the "Company"; HKEX stock code: 01675), a leading provider of software products...

Landowners Offered $30,000 Per Year for Just 1 Hectare: The Rise of 5MW Battery Projects Across Australia

In a pivotal shift reshaping Australia’s renewable energy landscape, landowners in Queensland, New South Wales, and Victoria are being offered up ...

Major national security tech alliance launches with Aerologix a founding member

Australia’s leading drone intelligence pioneer bolsters sovereign tech power Australia’s leading aerial data and drone intelligence platform, Aer...

Chris Hancock AM Honoured as 2025 Communications Ambassador

SYDNEY Chris Hancock AM, former CEO of AARNet, has been awarded the prestigious Communications Ambassador title at the 2025 Telecommunications Indus...

Baby boomers are driving development feasibility leading to larger apartments

As residential developers continue to grapple with feasibility issues on apartment projects, the sector is struggling to deliver volumes of new st...

Hays launches FY25/26 Salary Guide: ‘Salary Paradox’ deepens as pay rises fail Australians

Rising dissatisfaction with pay, progression and perks is fuelling a new wave of career change in FY25/26, as Australians demand more from employe...

Australian Businesses Still Stuck in the AI Hype Cycle

Data Governance Failures, ROI Gaps and Unclear Strategy Slowing Progress Despite artificial intelligence (AI) dominating headlines and boardroom ag...

Sell by LayBy