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FWD Acquires 25% Stake in Bolttech Insurance (Hong Kong) from Richard Li for HKD162M+
2026-10-12 09:16:13 FWD (01828.HK) announced that its wholly owned subsidiary FWD Limited entered into a sale and purchase agreement with Bolttech Discovery Holdings Limited last Saturday (10th) to acquire a 25% stake in Bolttech Insurance (Hong Kong) Company Limited, involving 429,300 ordinary shares, for a base consideration of USD20.72 million, equivalent to more than HKD162 million, to be funded by internal resources. The vendor, Bolttech Discovery Holdings Limited, is wholly owned by Bolttech Holdings, in which company executive director and controlling shareholder Richard Li holds more than a 30% stake. The transaction therefore constitutes a connected transaction. FWD said the transaction provides the group with the opportunity to acquire a non-controlling minority interest in a business that operates an established general insurance business in Hong Kong and with which it has maintained a longstanding commercial relationship. The transaction also provides an opportunity to further strengthen the existing partnership between the parties in group medical insurance and to enhance cooperation in personal general insurance products, including through enhanced product offerings, distribution and customer service. ~ AASTOCKS Financial News Website: www.aastocks.com | |