GoFintech Innovation (HKG:0290) agreed to invest around $40 million in a Hong Kong-based decentralized social and messaging platform operator, according to a filing with the city's bourse Tuesday.
The firm will purchase around 11.9 million Luffa AI shares from three existing investors for $19.8 million, and subscribe to a further 10 million shares of the business under a separate transaction.
The shares collectively represent 19.9% of Luffa AI's enlarged share capital.
GoFintech Innovation had announced its intention to invest in Luffa AI in April.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments