Fintech
Buzz Capital 2 Inc. Provides Further Details of Its Qualifying Transaction with Heliene Inc.
Toronto, Ontario–(Newsfile Corp. – November 8, 2021) – Further to its press release dated October 5, 2021, Buzz Capital 2 Inc. (TSXV: BUZH.P) (the “Corporation” or “Buzz2“) is pleased to provide further details of its proposed qualifying transaction (the “Proposed Transaction“) with Heliene Inc. (“Heliene“).
Heliene, an Ontario private company incorporated under the Business Corporations Act (Ontario) and based in Sault Ste. Marie, is one of North America’s fastest-growing domestic module manufacturers serving the utility-scale, commercial, and residential markets. With an in-house logistics team and remarkably responsive support staff, Heliene delivers competitively priced, high performance solar modules precisely when and where customers need them to accelerate North America’s clean energy transition. Founded in 2010, Heliene consistently ranks as a Bloomberg New Energy Finance Tier 1 module manufacturer and has production facilities located in Canada, Minnesota and Florida. Further information on Heliene may be found on its website at: https://heliene.com.
THE PROPOSED TRANSACTION
On October 1, 2021, the Corporation entered into a non-binding letter of intent with Heliene setting forth the principal terms upon which the Corporation shall acquire all of the issued and outstanding shares in the capital of Heliene (the “Heliene Shares“) by way of amalgamation, carried out pursuant to a business combination agreement to be entered into among the parties (the “Definitive Agreement“). It is intended that the Proposed Transaction will constitute a reverse take-over of the Corporation by Heliene inasmuch as the former shareholders of Heliene will own, assuming completion of the Concurrent Financing (as defined below) for minimum gross proceeds of $35,000,000, 69.17% of the then outstanding non-diluted common shares in the capital of the Corporation (the “Buzz2 Shares“) and 98.81% together with the subscribers in the Concurrent Financing. The Corporation following the completion of the Proposed Transaction is herein referred to as the “Resulting Issuer“.
The Proposed Transaction will constitute the “Qualifying Transaction” of the Corporation as such term is defined in Policy 2.4 – Capital Pool Companies (the “CPC Policy“) of the TSX Venture Exchange (the “Exchange“) and it is anticipated that the Buzz2 Shares will trade under the stock symbol “HELN”, subject to Exchange approval.
To the knowledge of the directors and executive officers of the Corporation, the only persons who currently beneficially own, directly or indirectly, or exercise control or direction over more than 10% of the Heliene Shares are as follows: (i) Mr. Denis Turcotte, an individual resident in Toronto, Ontario who currently owns approximately 44.57% of the outstanding Heliene Shares individually and through Northern Lights Trust, an entity beneficially owned and controlled by Mr. Turcotte; (ii) Mr. Martin Pochtaruk, an individual resident in Sault Ste. Marie, Ontario who currently has voting control over approximately 55.43% of the outstanding Heliene Shares individually and through 2208843 Ontario Limited, a corporation beneficially owned and controlled by Mr. Pochtaruk.
On or immediately prior to the closing of the Proposed Transaction, the Corporation will consolidate its outstanding share capital (the “Consolidation“) on the basis of 1 new Buzz2 Share for each 5.8714 existing Buzz2 Shares. There are currently 8,220,000 Buzz2 Shares outstanding which will result in 1,400,000 post-Consolidation Buzz2 Shares issued and outstanding. The Consolidation will also affect the holders of the Corporation’s outstanding warrants and options, as described below, on the same basis.
Prior to the closing of the Proposed Transaction, Heliene will split its outstanding share capital (the “Split“) on the basis of 2,189.828 Heliene Shares for each of 1 existing Heliene Share and there will be 79,381,265 Heliene Shares outstanding at such time (prior to the issuance of 2,296,080 Lender Shares (as defined below)).
In connection with the Proposed Transaction, the Corporation will continue into Ontario as a corporation existing under the Business Corporations Act (Ontario) (the “OBCA“) and will incorporate a wholly-owned subsidiary under the OBCA which will amalgamate with Heliene to form a new amalgamated corporation which will subsequently amalgamate with the Corporation to form the Resulting Issuer. In connection with the amalgamations, holders of Heliene Shares (including prior holders of subscription receipts purchased in the Concurrent Financing) will ultimately receive one Resulting Issuer Share in exchange for each Heliene Share held.
Following the completion of the Proposed Transaction, the Consolidation, the Split and the Concurrent Financing (collectively, the “Transactions“), there will be approximately 118,077,346 common shares of the Resulting Issuer (“Resulting Issuer Shares“) outstanding assuming completion of the Concurrent Financing for gross proceeds of $35,000,000 (or 128,077,346 Resulting Issuer Shares outstanding assuming completion of the Concurrent Financing for gross proceeds of $45,000,000).
The Proposed Transaction will not constitute a “Non-Arm’s Length Qualifying Transaction” (as such term is defined by the Exchange). In addition, the Proposed Transaction is not a “related party transaction” as such term is defined by Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions and is not subject to Policy 5.9 of the Exchange. As a result, approval of the Proposed Transactions is not required pursuant to Policy 2.4 of the Exchange or applicable securities laws. However, the Consolidation, the approval of new stock option plan for the Resulting Issuer and the appointment of the new directors of the Resulting Issuer, will require the approval of Buzz shareholders at a special meeting of meeting of Buzz shareholders to be held prior to the completion of the Proposed Transaction.
There are no finder’s fees payable to any person in connection with the Proposed Transaction.
CONCURRENT FINANCING
In conjunction with the Proposed Transaction, Heliene anticipates completing a concurrent financing of subscription receipts of Heliene (“Subscription Receipts“) at a price of $1.00 per Subscription Receipt for aggregate gross proceeds of a minimum of $35,000,000 and a maximum of $45,000,000 (the “Concurrent Financing“). Heliene will also grant the agents an option to sell such number of additional Subscription Receipts as is equal to 15% of the number of Subscription Receipts sold under the Concurrent Financing. If the agents exercise such option, the aggregate gross proceeds of the Concurrent Financing will be $51,750,000, assuming the maximum Concurrent Financing size. Each Subscription Receipt will automatically be exchanged into one unit of Heliene (each, a “Unit“) upon the satisfaction of certain escrow release conditions in accordance with the terms of a subscription receipt agreement (the “Release Conditions“), without the payment of additional consideration or the taking of further action on the part of the subscriber. Each Unit will consist of one common share of Heliene (a “Unit Share“) and one common share purchase warrant (a “Unit Warrant“). Each Unit Warrant will be exercisable to acquire one common share of Heliene at an exercise price of $1.25 for a period of 24 months from the date of the satisfaction of the Release Conditions.
Upon completion of the Proposed Transaction, each Unit Share will automatically be exchanged for one Resulting Issuer Share and each Unit Warrant will automatically be exchanged for one common share purchase warrant exercisable to acquire one Resulting Issuer Share at an exercise price of $1.25 for a period of 24 months from the date of issuance of the Unit Warrants.
In connection with the Concurrent Financing, the agents will be entitled to a cash commission (the “Commission“) equal to 7.0% of the aggregate gross proceeds raised in the Concurrent Financing, which shall be reduced to 3.5% in respect of sales of Subscription Receipts to purchasers on a president’s list and will be issued non-transferrable agent options (each, an “Agent Option“) exercisable for that number of Units equal to 7.0% of the number of Subscription Receipts issued pursuant to the Concurrent Financing, which shall be reduced to 3.5% in respect of the number of Subscription Receipts issued to purchasers on a president’s list, at a price of $1.00 per Unit for a period of 24 months from the date of satisfaction of the Release Conditions. In connection with the closing of the Proposed Transaction, the Agent Options will be exchanged for options of the Resulting Issuer on equivalent terms.
In connection with the Concurrent Financing, Heliene has entered into an engagement letter dated September 29, 2021 with Stifel GMP, Roth Canada ULC and Echelon Wealth Partners Inc. as lead agents and bookrunners.
The following table summarizes the proposed pro forma capitalization of the Resulting Issuer following completion of the Proposed Transaction, the Consolidation, the Split and the Concurrent Financing:
| Assuming the Minimum Concurrent Financing Amount ($35,000,000) | Assuming the Maximum Concurrent Financing Amount ($45,000,000) | |||||
| Designation of Security | Number |
Percentage (undiluted) | Percentage (fully-diluted) | Number |
Percentage (undiluted) | Percentage (fully-diluted) |
| Resulting Issuer Shares | ||||||
| Shares Issued | ||||||
| Buzz2 Shares | 1,400,000 | 1.19% | 0.89% | 1,400,000 | 1.09% | 0.78% |
| Heliene Shares | 79,381,265 | 67.23% | 50.20% | 79,381,265 | 61.98% | 44.22% |
| Issued to Investors in the Concurrent Financing |
35,000,000 | 29.64% | 22.14 | 45,000,000 | 35.14% | 25.07% |
| Lender Shares(1) | 2,296,080 | 1.94% | 1.45 | 2,296,080 | 1.79% | 1.28% |
| Subtotals | 118,077,345 | 100% | 74.68% | 128,077,345 | 100% | 71.35% |
| Reserved for issuance under the: | ||||||
| Buzz2 Options | 139,660 | n/a | 0.09% | 139,660 | n/a | 0.08% |
| Agent Options (as defined below) issued pursuant to the Concurrent Financing(2) |
4,900,000 |
n/a |
3.10% |
6,300,000 |
n/a |
3.51% |
| Warrants issued pursuant to the Concurrent Financing |
35,000,000 |
n/a |
22.14% |
45,000,000 |
n/a |
25.07% |
| Total (fully-diluted) | 158,117,005 | 100% | 179,517,005 | 100% | ||
Notes:
(1) Pursuant to the terms of a credit agreement, Heliene has agreed to issue immediately prior to completion of the Proposed Transaction such 2,296,080 common shares of Heliene (on a post-Split basis) to Cortland Credit Group Inc. (the “Lender Shares“).
(2) It is anticipated that the agents in the Concurrent Financing will be issued agent options (each, a “Agent Option“), exercisable to purchase that number of units of Heliene equal to 7.0% of the number of subscription receipts issued pursuant to the Concurrent Financing, reduced to 3.5% in respect of the number of subscription receipts issued to purchasers on a president’s list. Each unit of Heliene will consist of one Heliene Share and one Warrant, to be exchanged for equivalent units of the Resulting Issuer following completion of the Proposed Transaction. These figures include: (i) the Resulting Issuer Shares partially comprising the units issuable upon the exercise of the Agent Options; and (ii) the Resulting Issuer Shares issuable upon exercise of the Warrants underlying the Agent Options.
SELECTED FINANCIAL STATEMENT INFORMATION
The following tables present selected financial statement information on the financial condition and results of operations for the Corporation and Heliene. Such information is derived from the unaudited financial statements of Heliene for the period ended December 31, 2020 and the audited financial statements of the Corporation for the year ended December 31, 2020. The information provided herein should be read in conjunction with the financial statements of Heliene for the period ended December 31, 2020, which will subsequently be audited and which have been prepared in accordance with IFRS, and which will be filed on SEDAR when the Corporation files its Filing Statement with respect to the Proposed Transaction. The Corporation’s financial statements have been filed on SEDAR.
| Heliene December 31, 2020 (audited) (Expressed in thousands of USD) |
Buzz2 December 31, 2020 (audited) (CAD) |
|
| Revenue | $67,408 | $0 |
| Expenses | $6,846 | $46,317 |
| Gross profit | $6,265 | $0 |
| Net income (loss) | $(581) | $(46,317) |
| Total assets | $25,340 | $400,971 |
| Total liabilities | $58,331 | $4,588 |
| Shareholders’ Equity | $25,340 | $396,383 |
PROPOSED MANAGEMENT AND DIRECTORS OF THE RESULTING ISSUER
It is the intention of the Corporation and Heliene to establish and maintain a board of directors of the Resulting Issuer with a combination of appropriate skill sets that is compliant with all regulatory and corporate governance requirements, including any applicable independence requirements. Upon completion of the Proposed Transaction, the board of the Resulting Issuer is expected to be comprised of six (6) individuals. The following are brief descriptions of the proposed management and directors of the Resulting Issuer:
Martin Pochtaruk: President, Chief Executive Officer and Director. Mr. Pochtaruk has over 30 years of experience managing manufacturing and innovation businesses across Europe and America. Since founding the Company in 2010, Mr. Pochtaruk works for Heliene on a full-time basis. Prior to founding Heliene, he was the Vice President of business development at Algoma Steel Inc., a Canadian public company, where he was responsible for driving the company’s value-chain integration strategy, creating and increasing value to shareholders. Mr. Pochtaruk holds a graduate degree (Licenciatura) in Physics from the University of Buenos Aires.
Brad Simard: Chief Financial Officer and Corporate Secretary. Mr. Simard’s experience lies in the areas of finance, accounting, supply chain and management consulting. Mr. Simard also works a full-time position as the owner and operator of the TEN SPOT beauty bar and Simard Solutions. He holds a Bachelors of Mathematics (Honours) from the University of Waterloo and is also a Certified Management Accountant and Chartered Practitioner Accountant.
Gustavo Loureiro: Chief Operating Officer. Mr. Loureiro is an engineer and brings with him over 30 years of managerial and technical experience with a focus in manufacturing operations. Mr. Loureiro has worked in various capacities ranging from maintenance, production, quality and continuous improvement roles to project management in Canada, the USA, Argentina and Indonesia.
Nadeem Haque: Chief Technology Officer. Mr. Haque is an engineering & technology professional with 25+ years of experience in renewables and semiconductors. Prior to joining Heliene, Mr. Haque led the engineering of high efficiency solar, BIPV, and LCPV products and systems at Solaria Corporation. He previously led cutting edge work in the semi conductor industry, leading the design and delivery of state-of-the-art microelectronic products at LSI Logic Corporation (now BroadcomInc.).
Denis Turcotte: Chairman of the Board of Directors. Mr. Turcotte has been involved in the energy industry in various capacities for over the past 15 years. He previously acted as a director of Heliene for a collective term of 4 years and has recently been re-elected as Chairman of the Board of Directors in January 2021. Mr. Turcotte is currently the Managing Partner and Chief Operating Officer of Brookfield Asset Management, where he has worked for almost 5 years. He is also a Board Chairman for Westinghouse Electric, Gaftech International and a Lead Director of Teekay Offshore. After resigning as President and CEO of Algoma Steel Inc., he became the Principal and Chief Executive Officer of North Channel Management/Capital Partners where he worked to support organizations focusing on improving governance, elevating strategy, business planning and implementing organizational redesign and change initiatives to achieve critical objectives. Mr. Turcotte holds a Bachelor of Engineering (Mechanical) from Lakehead University and a Master of Business Administration from the Western University.
Michel Dumas: Independent Director. Mr. Dumas has over 30 years of financial experience including time with companies in the manufacture of forest products. Prior to becoming a director of Heliene, he worked as Executive Vice-President and Chief Financial Officer of Tembec Holdings Inc., a large publicly listed company with its principal place of business in Montreal and was later named to its Board of Directors.
Benjamin Duster: Independent Director. Mr. Duster has over 30 years of experience working as a director, professional advisor and partner of businesses throughout the United States. He is the founder of Cormorant IV Corporation, LLC which serves as a strategic advisory and interim executive management firm for companies undergoing or contemplating transformative change. Mr. Duster currently serves as Chairman of the Compensation Committee of Weatherford International and Chairman of the Audit Committee of Chesapeake Energy. Most recently, he served as Chief Executive Officer of the CenterLight Health System where he was responsible for the operation of the largest not-for-profit Program of All-Inclusive Care for the Elderly in the United States. Mr. Duster holds a Bachelor of Arts in Economics from Yale University, a Masters in Business Administration from Harvard University and a Juris Doctorate from Harvard University.
Daniel Shea: Independent Director. Mr. Shea has nearly 10 years of experience working as a director in the nano-technology space based on solar cells, energy and solar control. He currently serves as the Chief Executive Officer of QD Solar Inc., Chairman of the Board of 3E Nano Inc. and Principal of Uniworld Communications, which are all Ontario-based companies. Prior to his current roles, he served as Chief Operating Officer of Infobright, where he was nominated by the Chief Executive Officer of the database analytics company to address and rectify significant challenges. Mr. Shea holds a Bachelor of Applied Sciences from the University of Toronto.
Jonathan Weisz: Independent Director. Mr. Weisz has 30 years of legal experience where he worked to become partner at Torys LLP. He has vast experience representing many of North America’s most prominent energy companies and project finance lenders on a variety of transactions. Mr. Weisz currently manages the family office of Jonathan Weisz Corporation, an investment and philanthropy company in Toronto, Ontario. Mr. Weisz holds a Juris Doctorate from Osgoode Hall Law School.
Dennis Greene: Vice President, Sales and Business Development. Mr Greene has over 20 years of experience leading commercial teams on sales and business development of solar PV modules and software development and applications in the United States and internationally Mr. Greene has established a reputation for developing cohesive, customer focused, high performing sales teams while focusing on customer needs and long-term satisfaction. Mr. Greene holds a Bachelor of Science in Business and Marketing from Murray State University.
SIGNIFICANT CONDITIONS TO CLOSING
The completion of the Proposed Transaction is subject to a number of conditions, including but not limited to the entering into of the Definitive Agreement, completion of the Concurrent Financing, satisfactory due diligence reviews, approval by both boards of directors, approval of Heliene’s shareholders, obtaining necessary governmental and third-party approvals and Exchange acceptance. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
SPONSORSHIP
The Corporation has applied for a waiver from the sponsorship requirement. There is no guarantee that such waiver can be obtained.
ARM’S LENGTH QUALIFYING TRANSACTION
The control persons of Heliene are not (and their associates and affiliates are not) control persons in the Corporation. Accordingly, the acquisition by the Corporation of all the issued and outstanding shares of Heliene is not a Non-Arm’s Length Qualifying Transaction for the purposes of Exchange policies. As a result, the Proposed Transaction will not be subject to approval of the shareholders of the Corporation and therefore no meeting of the shareholders of the Corporation is required as a condition to the completion of the Proposed Transaction.
INSIDERS OF THE RESULTING ISSUER
Other than has been previously referred to in this press release, and to the knowledge of the directors and senior officers of the Corporation or Heliene, no person will become an insider of the Resulting Issuer as a result or upon completion of the Proposed Transaction.
ABOUT BUZZ CAPITAL 2 INC.
Buzz2 is a capital pool company governed by the policies of the Exchange. The principal business of Buzz2 is the identification and evaluation of assets or businesses with a view to completing a Qualifying Transaction.
FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements, including statements about the Corporation’s future plans and intentions and completion of the Proposed Transaction. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Corporation cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Corporation assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
For further information please contact:
Buzz Capital 2 Inc.
Patrick Lalonde
President and CEO
Tel.: 613-366-4242
Heliene Inc.
Annika Harper
PR Director, Antenna Group
Email: [email protected]
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/102441
Powered by WPeMatico
Fintech
Asian Financial Forum held next week as the region’s first major international financial assembly of 2025
The 18th Asian Financial Forum 2025 (AFF), co-organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), will be held at the Hong Kong Convention and Exhibition Centre (HKCEC) on 13 and 14 January (Monday and Tuesday). As the region’s first major international financial conference in 2025, the forum will examine the landscape for new business opportunities in various industries and regions in the coming year and promote global cooperation, and is expected to attract more than 3,600 finance and business heavyweights.
Themed “Powering the Next Growth Engine”, the AFF will bring together more than 100 global policymakers, business leaders, financial experts and investors, entrepreneurs, tech companies and economists to share their views on the shifting global economic landscape and financial ecosystem. These industry experts will dissect the risk management strategy, discover new business opportunities, and explore how Hong Kong can seek breakthroughs in a period of change.
First flagship financial event to showcase Hong Kong’s financial strengths
Launched in 2007, the AFF has become a flagship financial event for Hong Kong and the broader region, highlighting the city’s pivotal role as a globally renowned financial hub with a highly competitive economic and business environment. Amid a rapidly changing global macroeconomic landscape, and shifts in geopolitical dynamics and monetary policies, Hong Kong’s financial services sector continues to leverage its strengths across various domains, drawing on its world-class business infrastructure and robust regulatory regime to help drive cooperation and mutual success across Asia and around the world.
Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR Government, said: “Hong Kong’s financial market went through a lot of reforms and innovation last year. We have also launched a roadmap on sustainability disclosure in Hong Kong and issued a policy statement on responsible application of artificial intelligence in the financial market with a view to boosting green finance and sustainable financing. The upcoming Asian Financial Forum will gather the top-tier of the financial and various sectors from all around the world, the Mainland and in Hong Kong and hence is the perfect occasion for us to showcase to the world the new momentum and latest advantages of Hong Kong in the financial realm. Participants will also have a chance to learn more about how Hong Kong can partner with them to explore new collaborations and development areas while expanding their network here.”
Luanne Lim, Chairperson of the AFF Steering Committee and Chief Executive Officer, Hong Kong, of HSBC, said: “The global economy faces greater uncertainties in 2025 compared to 2024. However, robust growth in India and ASEAN nations, combined with increased policy support from Mainland China, is expected to keep Asia’s (ex-Japan) GDP growth at a strong 4.4%, well above the global average of 2.7%.” Against this backdrop, this year’s Asia Financial Forum is aptly themed “Powering the Next Growth Engine” and will focus on high-potential markets such as ASEAN, the Middle East (particularly the Gulf Cooperation Council countries), and the role that Hong Kong can play. Ms Lim said Hong Kong’s unique role as a bridge between the mainland and international markets allows it to support mainland enterprises expanding globally. She added that Hong Kong is committed to attracting global talent and investors, driving growth for both mainland and international businesses.
Patrick Lau, HKTDC Deputy Executive Director, said: “As we move into the new year, different economies around the world are facing challenges in maintaining economic growth. As an international financial centre, Hong Kong is playing an important role both as a ‘super-connector’ and a ‘super value-adder’ to link the world, enabling investors and fundraisers to leverage the city’s professional services and investment platforms to facilitate collaboration and create business opportunities. This year’s forum not only brings together heavyweight speakers and thought leaders but also builds on the success of previous years to provide a business platform for international participants, promoting financial and business cooperation and working together to launch new engines for growth.”
Exploring new trends as the world’s economic centre of gravity continues its shift east
Reflecting on a trend where the world’s economic centre of gravity continues to take an eastward shift, Christopher Hui will host two plenary sessions on emerging prospects in the region on the first day of the forum (13 January). The morning session of Plenary Session I will feature H.E. Adylbek Kasymaliev, Prime Minister of Kyrgyzstan, finance ministers from countries such as Pakistan and Luxembourg, and Yoshiki Takeuchi, Deputy Secretary-General of the Organisation for Economic Co-operation and Development (OECD), who together will explore the financial policy outlook for 2025. In the afternoon, Plenary Session II will bring together leaders from multilateral organisations to share their views on the role of multilateral cooperation in regional economic development. Speakers will include Roberta Casali, Vice-President, Finance and Risk Management, Asian Development Bank; Jin Liqun, President and Chair of the Asian Infrastructure Investment Bank (AIIB); and Satvinder Singh, Deputy Secretary-General for ASEAN Economic Community, Association of Southeast Asian Nations (ASEAN). Moreover, a new session, the Gulf Cooperation Council Chapter, will bring together HE Jasem Mohamed AlBudaiwi, Secretary General of the Gulf Cooperation Council (GCC), speakers from the Middle East and local experts to discuss prospects in fostering financial cooperation and investment between the member states of the GCC and Hong Kong.
Also on the first day, Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, will host the Policy Dialogue session with speakers including European representatives such as Philip Lane, Chief Economist and Member of the Executive Board of the European Central Bank, and Dr Olli Rehn, Governor of the Bank of Finland. The discussion will explore the opportunities and challenges arising from the global shift towards more accommodative monetary policies and national authorities’ strategic deployment of measures to revitalise their economies and accelerate growth through innovation.
The panel discussion on China Opportunities returns this year with senior figures invited to analyse investment prospects under China’s commitment to technological innovation and its impact on global business. The panellists included Li Yimei, Chief Executive Officer of China Asset Management; and Ken Wong, Executive Vice President of Lenovo and President of Lenovo Solutions & Services Group.
Top economist and leading AI expert take the stage at keynote luncheons
Another highlight of this year’s AFF will be the two keynote luncheons featuring thematic speeches by two distinguished guests: Prof Justin Lin Yifu, Chief Economist and Senior Vice President of the World Bank (2008-2012), and Prof Stuart Russell, Co-chair of the World Economic Forum Council on AI. These two prominent figures will dissect the evolution of the global economic landscape amid changing international dynamics, and examine how artificial intelligence (AI) is emerging as a new driving force for rapid global economic growth respectively.
Exploring hot topics in the financial and economic sectors
The afternoon panel discussion, Global Economic Outlook, will feature a special address from Liu Haoling, Vice Chairman, President and Chief Investment Officer, China Investment Corporation. The panel will analyse international economic trends and provide insights into business opportunities and wealth accumulation in emerging industries and regions in 2025.
Other sessions titled Global Spectrum, Dialogues for Tomorrow and Thematic Workshop will feature in-depth discussions focusing on the latest industry trends, including AI, Web 3.0, sustainability, philanthropy and family offices. As AI becomes increasingly widespread and diversified in its societal applications, the second day of the forum will introduce a special session, Dialogue with Kai-Fu Lee, in which Dr Kai-Fu Lee, Chairman of Sinovation Ventures, will discuss the transformative power of AI and its impact on technological advancements in the global business ecosystem.
Exploring the impact of sustainable disclosure on investment strategies
Sustainable finance and environmental, social and governance (ESG) considerations have become an irreversible global trend. In 2025, Hong Kong is set to fully align its regulatory framework with the sustainability disclosure standard of the International Sustainability Standards Board (ISSB). Sue Lloyd, Vice Chair of the ISSB, will join other experts in discussing how adopting international financial sustainability disclosure standards can strengthen market confidence in Hong Kong’s capital markets, address post-COP29 implementation in Asia, and share strategies for sustainable investing across three separate sessions. In addition, the Breakfast Panel on the second day will focus on the flows of transition finance in shaping a sustainable future in the Greater Bay Area and beyond. Furthermore, the HKTDC has partnered with EY to conduct a joint market survey on sustainable development, aiming to explore the views and practices of Asian businesses and investors on topics such as sustainability reporting, sustainable finance and preparations for dealing with climate change. The results of the survey will be unveiled on the first day of the forum.
Expanding cross-border opportunities through the HK global investment platform
As a key element of this year’s forum, AFF Deal-making offers one-on-one matching services for project owners and investors. More than 270 investors and 560 projects are expected to participate, with investment opportunities across industries such as environmental, energy, clean technology, food and agriculture tech, healthcare tech, fintech and deep technology. The exhibition sections of the AFF – Fintech Showcase, InnoVenture Salon, FintechHK Startup Salon and Global Investment Zone – will attract more than 130 local and global exhibitors, international financial institutions, technology companies, start-ups, investment promotion agencies and sponsors, including Knowledge Partner EY, HSBC, Bank of China (Hong Kong), Standard Chartered Bank, UBS, Prudential, China International Capital Corporation (CICC), Huatai International and more. Notably, the InnoVenture Salon will provide a platform for more than 100 start-ups to showcase innovative technologies in a variety of fields such as finance, regulation, sustainability, health and agriculture, supported by more than 110 Investment Mentors and Community Partners.
IFW 2025 creates synergies with AFF to boost mega event economy
International Financial Week (IFW) 2025 runs from 13 to 17 January with the AFF as its highlight event. This year’s IFW will feature more than 20 partner events, covering a wide range of global financial and business topics, including private equity, family offices, net-zero investing and generative AI. As the region’s first major financial event of the year, the AFF attracts top global enterprises and leaders to Hong Kong, creating connections between capital and opportunities. The forum assists industry professionals in seizing opportunities in the new year and helps promote the mega event economy in Hong Kong.
This year, the AFF has collaborated with various organisations to provide special travel, dining and shopping discounts and privileges for overseas participants joining the event. Activities include Peak Tram and Sky Terrace trips, the iconic Aqua Luna red-sail junk boat, and guided tours of Man Mo Temple and Tai Kwun arranged by the Hong Kong Tourism Board. Participants can also enjoy dining discounts and guided tours from the Lan Kwai Fong Group, as well as the Winter Wonderland at the Hong Kong Jockey Club’s Happy Wednesday at Happy Valley Racecourse, all designed to immerse overseas visitors in the vibrancy and diversity of Hong Kong.
The post Asian Financial Forum held next week as the region’s first major international financial assembly of 2025 appeared first on News, Events, Advertising Options.
As we close out 2024, the fintech industry continues to deliver headlines that underscore its dynamism and innovation. From IPO aspirations to groundbreaking regulatory milestones, today’s updates highlight the transformative power of fintech partnerships, regulatory evolution, and disruptive technologies. Here’s what you need to know.
Chime’s Quiet Step Toward Public Markets
Chime, the U.S.-based financial technology startup best known for its digital banking services, has taken a significant step by filing confidential paperwork for an initial public offering (IPO). As one of the most valuable private fintechs in the U.S., Chime’s move could potentially signal a renewed appetite for fintech IPOs in a market that has been cautious following fluctuating valuations across the tech sector.
With a valuation that reportedly exceeded $25 billion in its last funding round, Chime’s IPO could set a new benchmark for the industry. Observers note that its strong customer base and revenue growth may make it an appealing choice for investors seeking to capitalize on the digital banking boom. However, the timing and success of the IPO will depend on broader market conditions and the regulatory landscape.
Source: Bloomberg
ZBD’s Pioneering Achievement: EU MiCA License Approval
ZBD, a fintech company specializing in Bitcoin Lightning network solutions, has made history by becoming the first to secure an EU MiCA (Markets in Crypto-Assets Regulation) license. This landmark approval by the Dutch regulator positions ZBD at the forefront of compliant crypto-fintech operations in Europe.
MiCA, which aims to harmonize the regulatory framework for crypto-assets across the EU, has been a focal point for industry players aiming to establish legitimacy and expand their offerings. ZBD’s achievement not only validates its operational rigor but also sets a precedent for other fintech firms navigating the evolving regulatory landscape.
Industry insiders view this as a strategic advantage for ZBD as it broadens its footprint in Europe. By leveraging its regulatory approval, the company can accelerate its product deployment and establish trust with institutional and retail users alike.
Source: Coindesk, PR Newswire
The Fintech-Credit Union Synergy: A Blueprint for Innovation
The convergence of fintechs and credit unions continues to reshape the financial services ecosystem. Collaborative initiatives, such as the one highlighted in the recent partnership between fintech innovators and credit unions, are proving to be a potent force in delivering tailored financial solutions.
This “dream team” approach allows credit unions to leverage fintech’s technological expertise while maintaining their community-focused ethos. Key areas of collaboration include digital payments, personalized financial management tools, and enhanced loan processing capabilities. These partnerships not only enhance member engagement but also enable credit unions to remain competitive in an increasingly digital-first financial environment.
Industry analysts emphasize that such collaborations underscore a broader trend of traditional financial institutions embracing fintech-driven solutions to bridge service gaps and foster innovation.
Source: PYMNTS
Tackling Student Loan Debt: A Fintech’s Mission
Student loan debt remains a pressing issue for millions of Americans, and a Rochester-based fintech aims to offer relief through its cloud-based platform. This innovative solution is designed to simplify loan management and provide borrowers with actionable insights to reduce their debt burden.
The platform’s features include repayment optimization tools, personalized financial education, and seamless integration with loan servicers. By addressing the complexities of student loan management, this fintech is empowering borrowers to make informed decisions and achieve financial stability.
As the student loan crisis continues to evolve, solutions like this highlight the critical role fintech can play in addressing systemic financial challenges while fostering financial literacy and inclusion.
Source: RBJ
Industry Implications and Takeaways
Today’s updates underscore several key themes shaping the fintech landscape:
- Regulatory Milestones: ZBD’s MiCA license approval exemplifies the importance of regulatory compliance in unlocking growth opportunities.
- Strategic Partnerships: The collaboration between fintechs and credit unions demonstrates the value of combining technological innovation with traditional financial models to drive customer-centric solutions.
- Market Opportunities: Chime’s IPO move reflects a potential revival in fintech public offerings, signaling confidence in the sector’s long-term prospects.
- Social Impact: Fintech’s ability to tackle systemic issues, such as student loan debt, showcases its role as a force for positive change.
The post Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA) appeared first on News, Events, Advertising Options.
Leading global payments platform SPAYZ.io has confirmed it will be attending iFX EXPO Dubai 2025 on 14 to 16 January. Exhibiting at Stand 64 at Trade Centre Dubai, SPAYZ.io’s team of professionals will be on hand providing live demonstrations of its renowned payment services for payment providers. Attendees will also receive exclusive insight into SPAYZ.io’s plans for 2025 alongside early early access to its upcoming plans for the new year.
SPAYZ.io delivers a host of payment solutions that leverage the latest technological innovations and open access to the fastest growing emerging markets across Africa, Europe and Asia. Over the past year, there has been huge demand for its Open Banking and local payment method services, alongside bank transfers, mass payouts, online banking and e-wallets.
Yana Thakurta, Head of Business Development at SPAYZ.io commented: “We look forward to once again participating at iFX Dubai to expand our network of partners and clients. It’s a fantastic way to kick off the year, connecting with thousands of industry leaders from FOREX platforms to trading companies, and everything in between.
“Our key goal for iFX Dubai EXPO 2025 is to expand our portfolio of solutions and geographies. We’re using this as an opportunity to partner with like-minded entities who share our ambition to provide payment solutions that are truly global.”
Come meet SPAYZ.io’s team at the Trade Centre Dubai at Stand 64. You can also book a meeting slot with a member of a team.
The post SPAYZ.io prepares for iFX EXPO Dubai 2025 appeared first on News, Events, Advertising Options.
-
Fintech5 days agoAsian Financial Forum held next week as the region’s first major international financial assembly of 2025
-
Fintech PR5 days agoOWIT Global Provides Alternative Delivery Models that Adapt to the Continuously Evolving Data Security Demands of the Industry
-
Fintech PR6 days agoHyundai Motor Group Executive Chair Euisun Chung Outlines 2025 Vision Driven by Commitment to Innovation, Overcoming Challenges, and Creating Opportunities in New Year’s Message
-
Fintech PR6 days agoZoomlion Accelerates Global Expansion with Localized Innovations in Saudi Arabia
-
Fintech PR2 days agoHTX 2025 Outlook: Five Sectors to Look Forward to, and How Trump’s Policy Will Affect Crypto Industry
-
Fintech PR7 days agoPayroll Service Market Anticipates Strong Growth Amid Rising Automation Demand
-
Fintech PR2 days agoAZZURRI GROUP LAUNCHES ITS 2024 SUSTAINABLE DINING REPORT AND ACHIEVES FURTHER REDCUTIONS IN CARBON EMISSIONS
-
Fintech PR2 days agoNovo Holdings invests in $200M Series A for Windward Bio launch to advance long-acting treatments for asthma and COPD