Shandong Lucion Investment Holdings Group Co., Ltd entered into an agreement to acquire a 45% stake in First-Trust Fund Management Co., Ltd from Shandong International Trust Co., Ltd. for approximately CNH 130 million. First-Trust Fund Management Co., Ltd reported audited net assets of CNH 193.6 million on August 31, 2020.
Shandong Lucion Investment Holdings Group Co., Ltd entered into an equity transfer agreement to acquire a 45% stake in First-Trust Fund Management Co., Ltd from Shandong International Trust Co., Ltd. (SEHK:1697) for approximately CNH 130 million on December 14, 2020. Post completion, Shandong Lucion Investment Holdings Group Co., Ltd will no longer hold any equity interest in First-Trust Fund Management Co., Ltd. The transaction is subject to approval by regulatory board/committee and definitive agreement. As of August 31, 2020 First-Trust Fund Management Co., Ltd reported audited net assets of CNH 193.6 million.