Pintec Technology acquires Chinese securities tech firm, shares jump

J and Friends Holdings

12/04/2021 11:32

** Shares of Chinese computer programming services provider
 PT.O  jump ~22.9% to $1.5 premarket
    ** PT to acquire Shenzhen Jishengtai Technology Co Ltd
(JST), a securities technology firm based in Shenzhen, China
    ** JST designs and implements an end-to-end broker supplied
system (BSS) for automatic order matching and execution of
securities trading, which is the core backbone system of Riche
Bright Securities Limited, a Hong Kong securities brokerage firm
that PT recently acquired  urn:newsml:reuters.com:*:nPn6DY2RXa
    ** PT to issue certain non-voting ordinary shares to JST
shareholders for sale of equity interest; shares will comprise
fixed base of ~38.09 mln shares and additional shares up to
~45.09 mln 
    ** Up to Friday's close, stock had risen 24.5% YTD

 (Reporting by Sahil Shaw in Bengaluru)
 ((sahil.shaw@thomsonreuters.com))