DL Holdings Eyes Acquisition of Wealth Management Firm

DL Holdings Group Limited (HK:1709) has released an update.

DL Holdings Group Limited has announced a non-binding memorandum of understanding for the potential acquisition of a Singaporean wealth management firm with an asset management portfolio of approximately $2.6 billion. The preliminary valuation of the target company is around $50 million, with the purchase consideration to be determined after due diligence and further negotiation, potentially involving both cash and company share issuance. The target company, which also has a presence in Dubai, caters to a diverse clientele including high net-worth individuals and global wealth management firms.

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