"Tycoon-designated Placing Agent"- RaffAello to strengthen leading position in HK capital market

On 6 July 2021, Astrum Financial Holdings Limited ("Astrum Financial" or "The Company") (HKSE: 8333) announced that it has conditionally agreed to buy 27% of the issued share capital of RaffAello Holdings Limited ("RaffAello") for a consideration of HK$33 million, which shall be satisfied by Astrum Financial by way of allotment and issue of a total of 238 million consideration shares to RaffAello. It is proposed that upon the completion of the acquisition, Mr. Ricky Tsang Kin Hung, who is the controlling shareholder and sole director of RaffAello will be appointed as an executive Director and Astrum Financial will be renamed to "RaffAello-Astrum Financial Holdings Limited".

After the acquisition, it is implied that RaffAello will be listed on the GEM board of the Hong Kong Stock Exchange which will further consolidate its leading position in the capital market. It also represents an important step for RaffAello to scale up its underwriting and listing sponsorship business. Early in Dec 2019, RaffAello has been recognised as the "Tycoon-designated Placing Agent" after the placement of China Harmony New Energy Auto Holding Limited (HKSE:3836) new shares.

"We are delighted to further enhance visibility of the RaffAello brand in the capital market and pursue our successful growth strategy in the region. Our strong ability has long been highly recognised by numerous professional parties including listed companies, ultra-high-net worth-individuals as well as family offices. By combining our experience in brokerage, placing and underwriting, corporate finance advisory and asset management, customers will definitely benefit from our extraordinary services," said Ricky Tsang, sole director of RaffAello.