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Future FinTech to Acquire Majority Stake in Nice Talent Asset Management from Joyrich Enterprises
Monday 30 March 2020

US-based blockchain technology R and D and application company Future FinTech Group Inc. (NASDAQ: FTFT), through its Future FinTech (Hong Kong) Ltd. subsidiary, has entered into an equity acquisition frame agreement with China-based Joyrich Enterprises Ltd, the company said.

Under the deal, the company plans to acquire no less than 51% equity interest of Nice Talent Asset Management Ltd., a legal entity organised under the laws of Hong Kong.

The agreement is non-binding except for the "Confidentiality and Exclusivity" and "Applicable Law and Dispute Resolution" sections of the Agreement.

Owned by Joyrich Enterprises Ltd., Nice Talent Asset Management Ltd. was founded in 2018 and is licensed under the Securities and Futures Commission of Hong Kong (SFC) for carrying out regulated activities in "Advising on Securities" and "Asset Management."

NTAM's main services include asset management and investment advisory.

According to the agreement, the company will select qualified law firm and accounting firm to conduct formal due diligence on NTAM and then the parties will discuss and determine the final purchase price and definitive purchase agreement.

Future FinTech Group Inc. is a leading blockchain technology R and D and application company incorporated in Florida.

The operation of the company includes a blockchain based online shopping mall platform, Chain Cloud Mall, an incubator for blockchain based application projects and a digital payment system "DCON."

The company is also engaged in development of blockchain based e-Commerce technology as well as financial technology.
Date Published: 30/03/2020