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AGBA Acquisition Limited has finalized its business combination with TAG Holdings Limited. The newly formed entity, AGBA Group Holding Limited, will start trading on NASDAQ on November 15, 2022, under the ticker symbols 'AGBA' and 'AGBAW'. This strategic merger positions AGBA as a prominent wealth management and fintech platform in Hong Kong, offering a comprehensive range of financial services. The transaction involved the issuance of 55,500,000 ordinary shares valued at $10 each, enhancing AGBA's market presence and technological capabilities.
AGBA Acquisition Limited has signed a business combination agreement with TAG Holdings Limited, including its subsidiaries. This deal values the Platform Businesses at US$555 million. AGBA plans to issue 55,500,000 ordinary shares at US$10.00 per share, with the combined entity expected to list on NASDAQ under the ticker AGBA. Post-combination, the company aims to have at least US$35 million net cash available. The strategic goal is to establish a leading personal wealth and health platform in the Greater Bay Area, leveraging existing infrastructure and technology.
AGBA Acquisition Limited (NASDAQ: AGBA, AGBAU) has announced a non-binding term sheet for a potential business combination with Convoy Global Holdings Limited. The deal involves acquiring 100% of Convoy's Platform Business and a 30% stake in its independent financial advisory (IFA) business. In return, Convoy will receive 30 million shares at $10 each and $100 million in cash, totaling approximately $400 million. The IFA business is among the largest in Hong Kong, serving over 400,000 customers, while the Platform Business aims to leverage growth opportunities in the Greater Bay Area.
