New Century Group acquired a 60% stake in ETC Finance for HK$458m.

Financials

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Transaction Value£46m

Consideration TypeCash

Capital Owned-

Capital Bid For60%

EV/Sales-

EV/EBITDA-

Share Price Premium-

One Off Charge-

target

Etc Finance

bidder

New Century Group

Sources

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RNS Announcement

New Century Group - 18 Jun 2019

Tags

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Acquisition

consumer lender

Hong Kong

Consumer Lending

Private

Synopsis

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New Century Group, a Hong Kong-based investment holding company, acquired a 60% stake in ETC Finance, a licensed money lender in Hong Kong, for HK$458m in cash. The acquisition was caused by the belief of the Board of New Century Group, which considers that the demand of mortgage loans from money lenders will remain strong and sustainable