Brief: Hexindai Provides Details On Strategic Investment In A Subsidiary Of Phoenix Finance

Akso Health

08/01/2019 08:25

Jan 8 (Reuters) - Hexindai Inc  HX.O :
    * HEXINDAI PROVIDES DETAILS ON STRATEGIC INVESTMENT IN A SUBSIDIARY OF
PHOENIX
FINANCE
    * HEXINDAI PROVIDES DETAILS ON STRATEGIC INVESTMENT IN A SUBSIDIARY OF
PHOENIX
FINANCE
    * STRATEGIC INVESTMENT IS EXPECTED TO HELP EXPAND HEXINDAI'S BUSINESS
    * TWO PARTIES ARE EXPECTED TO FACILITATE ABOUT RMB10 BILLION IN CONSUMER
CREDIT
LOANS OVER A TERM OF THREE YEARS BEGINNING IN 2019
    * HEXINDAI HAS AGREED TO ACQUIRE A 5.88% EQUITY STAKE IN PHOENIX INTELLIGENT
CREDIT GROUP LTD
    * AGREED TO ACQUIRE A 5.88% EQUITY STAKE IN PHOENIX INTELLIGENT CREDIT GROUP
FOR A
TOTAL CONSIDERATION OF APPROXIMATELY US$29 MILLION

Source text for Eikon:  ID:nPn4js6DLa 
Further company coverage:  HX.O 

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