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BEIJING - Pintec Technology Holdings Limited (NASDAQ:PT), a technology platform for financial services in China with a current market capitalization of $15.15 million, announced Friday it has entered into a share transfer agreement with ZIITECH PTY LTD and certain ZIITECH shareholders. According to InvestingPro data, the company faces profitability challenges, with negative EBITDA of $1.48 million in the last twelve months.
Under the agreement signed on September 3, Pintec will acquire 715,521 ordinary shares of ZIITECH, representing approximately 25% of ZIITECH’s total issued and outstanding shares. In exchange, Pintec will issue 83,726,789 Class A ordinary shares to the transferring shareholders.
The transaction is expected to close in September 2025, subject to customary closing conditions. Upon completion, Pintec will consolidate ZIITECH’s financial statements pursuant to a shareholders’ agreement.
The share issuance is exempt from registration under the Securities Act of 1933 pursuant to Section 4(a)(2) regarding transactions not involving a public offering, and complies with applicable regulations.
Pintec, which holds licenses for internet micro lending, fund distribution, insurance brokerage, and enterprise credit investigation in China, provides technology-enabled financial services to small and medium enterprises.
The company connects business and financial partners on its platform, enabling them to provide financial services to end users. Pintec’s business model focuses on empowering partners to add financing options to their product offerings and helping financial partners adapt to the digital economy.
This information is based on a press release statement from Pintec Technology Holdings Limited.
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