HashKey looks to purchase Singapore's Asia Pacific Exchange

HashKey (3887) has signed a preliminary agreement to acquire Singapore's Asia Pacific Exchange, aiming to expand its regulated financial services business in the city-state, it said in a stock exchange filing on Wednesday.

• The Hong Kong-listed fintech company said its Singapore unit signed the non-binding agreement on July 22 with Asia Pacific Exchange and its main shareholder, Zhu Yuchen.
• Asia Pacific Exchange holds a Singapore licence to run an approved exchange, while its unit Asia Pacific Clear holds a licence to operate a clearing house, which handles the completion of trades, according to the filing.
• The proposed deal would help HashKey expand its regulated business in Singapore, it said.
• HashKey said the deal is subject to legal, financial and business checks, final negotiations and approval from the Monetary Authority of Singapore.
• No final purchase agreement has been signed, and the price and payment terms have not been decided, HashKey said.

Reuters

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