iFAST clinches regulator's approval for acquisition of Hong Kong stockbroking firm

It will pay HK$10m for Winfield Securities.

iFAST Corporation has received approval from the Securities and Futures Commission of Hong Kong (SFC) regarding its proposed acquisition of Winfield Securities.

The company will fork out HK$10m for the entire share capital of Winfield Securities. The deal was first revealed in June this year.

“The Company will provide updates on the completion as and when appropriate. None of the Directors or substantial shareholders of the Company have any interest, directly or indirectly, in the said transaction save for their interest arising by way of their shareholdings and/or directorships, as the case may be, in the Company,” iFAST said in a statement.