BEIJING, June 1, 2018 /PRNewswire/ -- AGM Group Holdings
Inc. ("AGM" or the "Company") (NASDAQ:AGMH), a financial technology
("FinTech") company providing trading platform solutions and
enabling technologies for brokerage firms and other financial
institutions, today announced that, through its wholly-owned
subsidiary, AGM Technology Limited ("AGM Technology"), it entered
into a definitive equity acquisition agreement with SIFT Capital
Partners Limited ("SIFT") and its shareholders to acquire a 75%
equity interest in SIFT for a cash consideration of HK$ 6 million (approximately US$ 0.76 million). SIFT is a Hong Kong-based asset management firm which
currently holds a Type 9 (asset management) license granted by the
Securities and Futures Commission of Hong
Kong ("SFC"). The closing of the transaction is subjected to
satisfactory legal and financial due diligence, the approval of
SFC, the record of Amendment to the Articles of Association of
SIFT, and other customary closing conditions.
Separately, the Company entered into an equity acquisition
agreement to acquire 100% equity interest in AGM Global Asset
Management Ltd. ("AGM Global"), a Cayman
Islands company, from a related party for a nominal amount.
AGM Global is not conducting any business currently.
Zhentao Jiang, Chairman of AGM,
commented, "The two acquisitions will create potential channels for
us to further growth into the investment and asset management
businesses. We have been evaluating market opportunities in these
new businesses across a wide variety of asset classes including
private and public equities, foreign currencies, options and
futures, as well as crypto currencies. Through these businesses, we
plan to carry out technology research and development underlying
the crypto-currency investments we plan to make, including Bitcoin,
Ethereum, EOS, Stellar, Dash, Tether, and FilmC."
About SIFT Capital Partners Limited
SIFT is an asset manager established under the laws of
Hong Kong and has been licensed
under the Securities and Futures Commission ("SFC") of Hong Kong since October 2013. SIFT is
authorized by the SFC to manage a portfolio of securities or
futures contracts for clients and to manage funds on a
discretionary basis. Since its establishment, SIFT has been
committed to practicing under the Hong
Kong financial regulatory authority and helping its Chinese
clients achieve their goals in terms of outbound investments
in the fields of securities, fixed income, and private
equity. Benefiting from the Shanghai-Hong Kong Stock Connect
and Shenzhen-Hong Kong Stock Connect respectively in 2014 and in
2016, SIFT broadened its investment scope and research to cover
listed companies in both Shanghai
and Shenzhen Stock Exchanges.
About AGM Group Holdings Inc.
Incorporated in April 2015 and
headquartered in Beijing, China,
AGM Group Holdings Inc. is an emerging financial technology
("FinTech") company focusing on delivering innovative trading
platform solutions and enhancing technologies for brokerage firms
and other financial institutions. The Company currently offers
three services lines: (i) online trading platform application
service for institutional clients; (ii) forex trading brokerage
service; and (iii) program trading application technology and
management service. For more information, please visit
www.agmgroup.com.
Forward Looking Statements
This news release contains "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates" and similar
statements. All statements other than statements of historical fact
in this press release are forward-looking statements and involve
certain risks and uncertainties that could cause actual results to
differ materially from those in the forward-looking statements.
These forward-looking statements are based on management's current
expectations, assumptions, estimates and projections about the
Company and the industry in which the Company operates, but involve
a number of unknown risks and uncertainties, Further information
regarding these and other risks is included in the Company's
filings with the U.S. Securities and Exchange Commission. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and actual
results may differ materially from the anticipated results. You are
urged to consider these factors carefully in evaluating the
forward-looking statements contained herein and are cautioned not
to place undue reliance on such forward-looking statements, which
are qualified in their entirety by these cautionary
statements.
For more information, please contact:
At the Company:
Email: DylanChiang@agmboard.com
Investor Relations:
Tony
Tian,
CFA
Weitian Group LLC
Email: tony.tian@weitian-ir.com
Phone: +1-732-910-9692
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SOURCE AGM Group Holdings Inc.