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SGOCO's Giant Connection completes acquisition of Giant Credit

SGOCO Group Ltd. subsidiary Giant Connection Ltd. completed the acquisition of Giant Credit Ltd., according to a Dec. 26 SEC filing.

The deal, valued at HK$19.6 million, included a share exchange agreement between Giant Connection and First Asia Holdings Ltd.'s CEO, Kimmy Luk Lai-ching, who acted as vendor. As part of the transaction, 2,220,283 ordinary shares of SGOCO were allotted and issued.

With the acquisition, Hong Kong-based LCD/LED display company SGOCO adds a local business that is focused on money lending and property investment.