Animoca Brands Plans to Acquire Up to 15% Stake in GROW's Hong Kong Subsidiary
Animoca Brands has signed a term sheet with GROW Investment Group, intending to strategically acquire a stake in GROW Investment Group's licensed Hong Kong subsidiary, GROW Asset Management (HK) Limited, with a maximum shareholding of up to 15%. The transaction is subject to the signing of a final agreement and regulatory approval. The two parties plan to build a platform offering both cryptocurrency and traditional financial products, targeting Asian family offices and ultra-high-net-worth individual clients. Animoca Brands will introduce crypto asset products, while GROW will provide traditional and alternative investment allocation solutions.