Airstar Digital, a subsidiary of Xiaomi Corporation, has invested in AMTD Capital, a subsidiary of AMTD International, on March 6.
Airstar Digital was formerly known as Xiaomi Digital.
In 2020, AMTD Capital obtained an approval by the Chinese regulator to operate as a foreign-invested investment management firm in Hengqin.
Xiaomi Finance (Hong Kong) Limited, a subsidiary of Airstar Digital, officially signed the strategic collaboration agreement with AMTD International.
Under the agreement, Airstar Digital will invest into new shares to own 49.87% of AMTD Capital.
SEE: AMTD International to adopt majority independent board structure; promotes CIO William Fung to CEO
Zhao Weixing, vice president of Airstar Digital and CEO of XW Bank, will join the Board of AMTD Capital. AMTD Capital will also be renamed AM Capital.
According to the statement released by AMTD via SGX on March 6, Calvin Choi, the chairman and CEO of AMTD Group and founder of AMTD International, met Zhao as representatives of the shareholders and members of the board of directors of AM Capital. During the meeting, Choi and Zhao discussed opportunities to further collaborate, including how both shareholders can maximise synergies and support AM Capital to implement its “Enterprise+” strategic investment methodology. Choi and Zhao, at the same time, held the first board meeting.
AM Capital is the second corporate level equity co-investment and collaboration between AMTD Group and Airstar Digital, following the joint establishment of Airstar Bank.
Shares in AMTD closed flat at $14.70 on March 5.
