trending Market Intelligence /marketintelligence/en/news-insights/trending/6jlx7z8Ftd-3X0leqPc0Ng2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

CASH Financial signs agreement for potential share sale to investment firm


Banking Essentials Newsletter, January edition - part 2

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

CASH Financial signs agreement for potential share sale to investment firm

CASH FinancialServices Group Ltd., or CFSG, has signed an agreement withinvestment firm Ever Billion Group Ltd. for a potential share sale.

The two companies said in a July 21 joint release that they enteredinto a framework agreement in which Ever Billion would purchase 1.50 billionCASH Financial shares, or about 36.28% of its entire issued share capital. Uponcompletion of the proposed transaction, the shareholding interest in CFSG byparent Celestial Asia Securities Holdings Ltd. will be cut to 4.06% from 40.34%.

The price of the shares, which will be settled in cash, issubject to further negotiations between the two companies.

If the share disposal goes through, CASH Financial willcease to be a subsidiary of Celestial Asia Securities.

Trading in CFSG's shares resumed on the Hong Kong stockexchange at 9 a.m. on July 22 after the share sale was announced. Trading hadbeen halted July 20pending the release of the announcement.