FWD (01828.HK): Buys 25% Stake in Bolttech Insurance (HK) for USD 20.72m

NewTimeSpace News: On 12 October 2026, FWD Group Holdings Limited (stock code: 01828) announced that on 10 October 2026, its wholly-owned subsidiary FWD Limited entered into a sale and purchase agreement with Bolttech Discovery Holdings Limited to acquire the sale shares, representing 25% of the target company's issued share capital, at a base consideration of USD 20,720,000, subject to completion adjustments.

The target company, Bolttech Insurance (Hong Kong) Company Limited, is incorporated in Hong Kong and authorised under the Insurance Ordinance to carry on general insurance business in or from Hong Kong. Based on the target company's audited consolidated net asset value of approximately HKD 336 million (equivalent to about USD 43 million) as at 31 December 2025, the base consideration represents an implied price-to-book multiple of 1.9 times, within the applicable range of 1.1 times to 2.8 times.

As Mr. Richard Li, an executive Director and controlling shareholder of the Company, indirectly holds 30% or more of the issued shares of bolttech Holdings, the seller is an associate of Mr. Li and thus a connected person of the Company, making the transaction a connected transaction. As the highest applicable percentage ratio exceeds 0.1% but is below 5%, the transaction is subject to reporting and announcement requirements but is exempt from circular and independent shareholders' approval requirements.