Airstar Bank, with AMTD as a co-founder, successfully introduces Futu as A New Shareholder

Rhea-AI Summary

AMTD Group, along with its subsidiaries AMTD IDEA Group and AMTD Digital, jointly announced that Airstar Bank, a Hong Kong virtual bank co-established with Xiaomi , has introduced Futu Holdings as a new shareholder. This investment is aimed at fostering business growth and diversification within Airstar Bank and promoting FinTech innovation and financial inclusion in Hong Kong. Airstar Bank's mission is to provide accessible and flexible digital banking services, aligning with Futu's philosophy of technological innovation in financial services.

Positive

• Futu Holdings' investment aims to foster Airstar Bank's business growth and diversification.
• The partnership is expected to stimulate FinTech innovation in Hong Kong.
• Airstar Bank's mission to provide accessible and flexible digital banking services aligns with financial inclusion goals.
• The collaboration with Futu Holdings can strengthen Airstar Bank's position as a leading virtual bank.

Negative

• The introduction of a new shareholder could lead to potential dilution of existing shares.
• The partnership's success is contingent on effective integration and collaboration between Airstar Bank and Futu Holdings.
• There are potential risks associated with the rapid pace of technological change and competition in the FinTech sector.

PARIS & NEW YORK & SINGAPORE--(BUSINESS WIRE)-- AMTD Group Inc. together with AMTD IDEA Group (“AMTD IDEA”) (NYSE: AMTD; SGX: HKB) and AMTD Digital Inc. (“AMTD Digital”) (NYSE: HKD), altogether known as (“AMTD”), jointly welcome that Airstar Bank, a Hong Kong virtual bank jointly co-established by AMTD and Xiaomi Corporation, has successfully introduced Futu Holdings Limited (“Futu”) as a new shareholder through its investment into Gravitation Fintech HK Limited, the parent company of Airstar Bank.

Airstar Bank, steadfast in its commitment to leveraging financial technology, is devoted to delivering innovative digital banking services that are both accessible and flexible for every customer. This mission seamlessly aligns with Futu's vision and philosophy of spearheading technological innovation within the financial services sector. The key motivations behind Futu’s capital injection are fostering Airstar Bank's business growth and business diversification, meanwhile stimulating the development of the industry ecosystem, propelling the ongoing innovation and widespread adoption of FinTech in Hong Kong, and facilitating the financial inclusion.

With the support of all shareholders, Airstar Bank will continue to uphold the virtue of financial inclusion and strive to become a “Bank for Everyone” by making cutting-edge virtual banking services accessible at its customers’ fingertips.

About AMTD Group

AMTD Group is a conglomerate with core business portfolio to span across financial services, digital solutions, media and entertainment, education and training, and premium assets.

About AMTD IDEA Group

AMTD IDEA Group (NYSE: AMTD; SGX: HKB) represents a diversified institution and digital solutions group connecting companies and investors with global markets. Its comprehensive one-stop business services plus digital solutions platform addresses different clients’ diverse and inter-connected business needs and digital requirements across all phases of their life cycles as well as hospitality and VIP services. AMTD IDEA Group is uniquely positioned as an active superconnector between clients, business partners, investee companies, and investors, connecting the East and the West. For more information, please visit www.amtdinc.com or follow us on X (formerly known as “Twitter") at @AMTDGroup.

About AMTD Digital Inc.

AMTD Digital Inc. (NYSE: HKD) is a comprehensive digital solutions platform headquartered in France. Its one-stop digital solutions platform operates four main business lines including digital solutions services, digital media, content and marketing services, digital investments as well as hospitality and VIP services. It is the fusion reactor at the core of the AMTD SpiderNet ecosystem and empowers and integrates the various digital businesses within its ecosystem. For AMTD Digital’s announcements, please visit https://ir.amtdigital.net/investor-news.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about the beliefs, plans, and expectations of AMTD IDEA Group and/or AMTD Digital, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the filings of AMTD IDEA Group and/or AMTD Digital with the SEC. All information provided in this press release is as of the date of this press release, and neither AMTD IDEA Group nor AMTD Digital undertakes any obligation to update any forward-looking statement, except as required under applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240607654800/en/

IR Office

AMTD IDEA Group

ir@amtdinc.com

Source: AMTD IDEA Group

FAQ

What is the main objective of Futu Holdings' investment in Airstar Bank?

The main objective is to foster Airstar Bank's business growth and diversification, and to promote FinTech innovation and financial inclusion in Hong Kong.

Who co-founded Airstar Bank?

Airstar Bank was co-founded by AMTD Group and Xiaomi

What is Airstar Bank's mission?

Airstar Bank's mission is to provide innovative digital banking services that are accessible and flexible to every customer, supporting financial inclusion.

Which companies are involved with AMTD?

AMTD is comprised of AMTD Group, AMTD IDEA Group, and AMTD Digital.

What impact will Futu Holdings' investment have on Airstar Bank?

Futu Holdings' investment is expected to support business growth, diversification, and stimulate the development of the FinTech industry ecosystem in Hong Kong.