HashKey plans to acquire 100% stake in Singapore licensed derivatives exchange APEX

HashKey Holdings Limited recently announced that its wholly-owned subsidiary HKDAGSG has entered into a non-legally binding framework agreement with the major shareholder of APEX of the Singapore Derivatives Exchange and APEX for the possible acquisition of its entire equity. The purchase consideration and payment arrangements have not yet been determined.<br /> According to HashKey, APEX holds a recognized exchange license issued by the Monetary Authority of Singapore, and its member company AsiaPacificClear holds a recognized clearing house license and has comprehensive issuance and settlement capabilities. HashKey said that if the acquisition is completed, it will help it establish a more scalable regulated base in Singapore.<br /> The announcement also emphasized that the proposed acquisition must be finalized until final documents are concluded and approved by MAS. As of the announcement date, the two parties have not yet concluded any final documents and obtained MAS approval, and the transaction may or may not proceed.