Futu invests HK$440M in Airstar Bank
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Contributor since / Followers
Contributor since / Followers
9 months ago
- Hong-Kong-based digitalized securities brokerage and wealth management firm – Futu Holdings (NASDAQ:FUTU) completed a HK$440M investment in Gravitation Fintech HK, the parent company of Airstar Bank, a Hong Kong licensed virtual bank.
- Following the investment, Futu (FUTU) became the second-largest beneficial owner, holding indirectly 44.11% of Airstar Bank.
- The stock traded marginally 0.52% higher to $76.88 on Thursday during after hours of trade.
- The stock has a Wall St. analysts rating of strong buy with an average price target of $82.47 and a SA quant rating of hold with the highest factor grades given to momentum and growth.