AGTech acquires controlling stake in Ant Bank Macao for $30.23m

AGTech now owns 51.15% of Ant Bank (Macao)'s issued shares.

AGTech Holdings has attained a controlling stake in Ant Bank (Macao) for MOP243m (approximately $30.23m).

The investment holding company holds approximately 51.15% of the issued share capital of Ant Bank (Macao) as of 2 September 2024.

With this, the bank is now an indirect non-wholly owned subsidiary of AGTech, according to a press release.

AGTech provides electronic payment, lottery, and local consumer services, with a focus on mainland China and Macau. 

The company said that it aims to use its various business units, including Ant Bank (Macao), to create cross-border financial services that will attract more tourists to visit Macau.

(US$1 = MOP 8.04. MOP stands for Macanese Pataca)