TechFlow news, according to East Money News, Futu Holdings has announced the completion of a HK$440 million investment in Airstar Bank's parent company, a licensed virtual bank in Hong Kong. Upon completion of the transaction, Futu will indirectly hold 44.11% of Airstar Bank's shares, becoming its second-largest shareholder. Xiaomi remains the largest shareholder of Airstar Bank, while Tencent is among Futu's shareholders.
It is reported that Futu's investment is primarily aimed at supporting Airstar Bank's business development and diversification, promoting industry ecosystem growth, advancing continuous innovation and adoption of fintech in Hong Kong, and deepening inclusive finance.
Airstar Bank was jointly established by Xiaomi Group and AMTD Group, an Asian financial institution. It received its banking license from the Hong Kong Monetary Authority on May 9, 2019, and officially commenced trial operations on March 31, 2020, becoming the second virtual bank to operate formally in Hong Kong. The bank primarily provides banking and related financial services in Hong Kong through a virtual banking model.
