Celestial Asia Securities Holdings Limited (SEHK:1049) made an offer to acquire remaining 57.7% stake in CASH Financial Services Group Limited (SEHK:510) for HKD 63.3 million on June 30, 2022. As per the transaction, Celestial Asia Securities Holdings Limited made the offer to acquire remaining 150.82 million shares at HKD 0.42 per share. The transaction will be financed through facility provided by Bank of Communications (Hong Kong) Ltd. An independent committee has been established by CASH Financial Services Group Limited comprising Cheng Shu Shing Raymond, Lo Kwok Hung John and Lo Ming Chi Charles to advise the shareholders of CASH Financial Services Group Limited. Celestial Asia Securities Holdings Limited intends not to delist CASH Financial Services Group Limited from stock exchange. The transaction is subject to obtaining approval from the shareholders of Celestial Asia Securities Holdings Limited and minimum acceptance of 50% stake of CASH Financial Services Group Limited.As on October 7, 2022, Transaction becomes unconditional. Merdeka Corporate Finance Limited and Vinco Financial has been appointed as the financial adviser to Celestial Asia Securities Holdings Limited. Transaction is expected to close on October 21, 2022.

Celestial Asia Securities Holdings Limited (SEHK:1049) completed the acquisition of additional 21.08% stake in CASH Financial Services Group Limited on for HKD 23.1 million October 21, 2022. Post acquisition, Public Shareholders holds 36.64% stake and CIGL and parties acting in concert holds 63.34% stake in CASH Financial Services.