HKG:3887

Citi Starts HashKey Holdings at Buy with HK$5.60 Price Target

HashKey Unit Eyes Acquisition of Singapore-Based Exchange Operator

HashKey's (HKG:3887) wholly owned subsidiary, HKDAG (Singapore), has signed a non-binding framework agreement for the potential acquisition of Singapore-based exchange operator Asia Pacific Exchange, according to a Wednesday Hong Kong bourse filing.The subsidiary will conduct legal, financial and business due diligence before deciding whether to proceed with the acquisition.Any transaction will remain subject to regulatory and corporate approvals, including approval from the Monetary Authority of Singapore, and the execution of definitive agreements.HashKey posted that Asia Pacific Exchange operates an approved exchange in Singapore, while its subsidiary, Asia Pacific Clear, holds an approved clearing house license.HashKey added that the consideration, payment arrangement, and other key terms have yet to be determined, and cautioned that the proposed acquisition may or may not proceed.

HashKey Plans Up to HK$100 Million Share Buyback

HashKey (HKG:3887) plans to repurchase up to HK$100 million of its shares on the open market using internal funds, according to a Thursday Hong Kong bourse filing.The buyback program will run from the approval of the share repurchase mandate at the company's annual general meeting on June 11 until the conclusion of its next annual general meeting.

HashKey Unit-Managed Fund Leads SignalPlus' Series B+ Investment

HashKey (HKG:3887) said a fund managed by its asset management arm led the Series B+ investment of crypto derivatives platform SignalPlus, according to a Wednesday Hong Kong bourse filing.Shares of the licensed digital asset platform provider were down nearly 2% in late morning trade on Thursday.HashKey Fintech Multi-Strategy Fund IV LP invested $40 million into SignalPlus, $20 million of which came from the group, the filing said.The investment is part of the long-term partnership between both parties, HashKey said.