Lion Group Holding Ltd., operator of an all-in-one trading platform that offers a wide spectrum of products and services with a focus on Chinese investors, entered into a share purchase agreement (the “Share Purchase Agreement”) with Mr. Jian Wang (the “Seller”), a majority shareholder and director of the Company, in a single transaction, to acquire the whole of the issued share capital of Lion Fintech Group Limited. At closing, Lion Fintech Group Limited will become a wholly-owned subsidiary of the Company.
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Lion Fintech Group Limited holds 70% voting rights and economic interest in Royal Lion Investment Limited, a company incorporated in the Cayman Islands, which holds 100% interest in Royal Lion Middle East DMCC, which is licensed to carry out proprietary trading in crypto-commodities through the Dubai Multi Commodities Centre (“DMCC”). Royal Lion Middle East DMCC is the license holder with DMCC that supports FIAT currency. This transaction will allow Lion’s clients to exchange FIAT currencies with crypto currencies on an efficient and secure platform.
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Mr. Chunning (Wilson) Wang, Chief Executive Officer of Lion, commented, “We are pleased to complete this acquisition and expand our trading business into the crypto asset market. As the financial services industry continues to evolve, Lion remains committed to expanding its service offerings to support our clients’ trading needs as we continue to create meaningful value for our shareholders.”
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