Future World Holdings Limited (SEHK:572) agreed to acquire Excelerate Fund Management Limited from Choi Cheuk Heng Zenith for HKD 2 million on June 26, 2024. A cash consideration of HKD 1 million will be paid by Future World Holdings Limited. The consideration consists of 1.43 million common equity of Future World Holdings Limited to be issued for common equity of Excelerate Fund Management Limited. As part of consideration, HKD 1 million is paid towards common equity of Excelerate Fund Management Limited.

For the period ending December 31, 2023, Excelerate Fund Management Limited reported total revenue of HKD 1.49 million,net loss of HKD 0.52 million and total common equity of HKD 0.64 million.

The transaction is subject to approval by regulatory board / committee and consummation of due diligence investigation.