Exhibit 99.1
AMTD International Acquires Majority Stake in AMTD Digital, Integrating IDEA’s “I” and
“D” to Enter into the Metaverse
NEW YORK & HONG KONG & SINGAPORE—(BUSINESS WIRE)—AMTD International Inc. (“AMTD International” or the “Company” or “AMTD IDEA Group”) (NYSE: HKIB; SGX: HKB), a subsidiary of AMTD Group Company Limited (“AMTD Group”) and a leading comprehensive financial services focused conglomerate headquartered in Hong Kong, today announced that it has entered into share purchase agreements (the “Share Purchase Agreements”) with certain shareholders of AMTD Digital Inc. (“AMTD Digital”), including certain strategic investors, institutional shareholders, and AMTD Group.
Under the terms and conditions of the Share Purchase Agreements, AMTD International will acquire a majority stake in AMTD Digital. With the acquisition, AMTD International will encompass a comprehensive suite of financial services infrastructure and licences; a one-stop digital solutions’ platform in Asia with global reach, spanning digital media, contents and marketing, including L’Officiel Inc SAS being a global fashion media group, and digital ecosystems comprising of an extensive network of ecosystem members and alliance partners, all of them working closely and / or in partnership with AMTD Group to enter into the Metaverse and deliver our comprehensive one-stop solutions to encompass financial services, digital tools and channels, art, culture and entertainment areas etc.
AMTD Digital, currently a subsidiary of AMTD Group, is a comprehensive one-stop digital solutions platform in Asia. The Company currently owns 14.4% of the issued and outstanding shares in AMTD Digital. Pursuant to the Share Purchase Agreements, the Company will purchase a total of 31,732,000 Class A ordinary shares and 24,202,000 Class B ordinary shares of AMTD Digital from certain strategic and institutional shareholders of AMTD Digital, as well as from AMTD Group, certain affiliates of AMTD Group and an affiliate of Dr. Calvin Choi, Chairman of AMTD Group, priced at US$17.75 per AMTD Digital share, representing a company valuation of AMTD Digital at US$1.2 billion. The total consideration represents 67,200,330 newly issued Class A ordinary shares and 51,253,702 newly issued Class B ordinary shares of the Company, priced at US$8.38 per AMTD International share, representing a pro-forma company valuation of AMTD International with enlarged shares at approximately US$2.64 billion. Upon the completion of the transactions under the Share Purchase Agreements, the Company will own 97.1% of the issued and outstanding shares, and 99.9% of the total voting power in AMTD Digital.
The transactions tabled under the Share Purchase Agreements are subject to certain closing conditions and are expected to close in early 2022, at which time AMTD Digital will become a consolidated subsidiary of the Company. Upon the completion of the transactions, Dr. Timothy Tong, Chairman of the Board of Directors of AMTD Digital, will continue to serve as the Chairman for AMTD Digital, as a subsidiary of AMTD IDEA Group. In addition, Dr. Tong will join the Company’s Board of Directors as an independent director.
The Company’s Board of Directors comprising of a majority of independent directors and Audit Committee consisting solely of independent and non-conflicted directors approved the Share Purchase Agreements and the transactions put forward.
Mr. Cai Wensheng, Founder of Longling Capital, a shareholder of AMTD International, said, “I am so thrilled to witness the successful launch of the most comprehensive AMTD IDEA Group comprising of AMTD International, AMTD Digital plus L’Officiel global. AMTD IDEA embraces financial services, digital transformation, media and cultural, all bonded together as a seamless one stop service platform. In my opinion, Web 3.0 represents a critical juncture in human development, which offers borderless opportunities beyond any boundaries for those who are well prepared for such tremendous moments!”
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