TechFlow news, October 13 — According to a Hong Kong Stock Exchange announcement, the Board of Directors of Dmall Digital Intelligence Limited announced that it has delivered a non-binding letter of intent regarding the potential acquisition of 100% equity interests in two licensed corporations regulated under Chapter 571 Securities and Futures Ordinance of Hong Kong. One of the target companies holds licenses for regulated activities in Category 4 (advising on securities), Category 5 (advising on futures contracts), and Category 9 (asset management), while the other company holds a Category 1 (dealing in securities) license.
As of the date of the announcement, no binding agreements have been signed among the parties concerning the potential acquisition, and discussions on terms are ongoing. This potential acquisition is considered a strategic move that would enable the company to rapidly enter the regulated financial services sector, and lay the foundation for upgrading its Category 1, Category 4, and Category 9 licenses to provide virtual asset trading services. The company plans to upgrade the relevant licenses following completion of the potential acquisition in order to launch its core virtual asset business. The Board stated that the terms and conditions of the potential acquisition are still under discussion.
