Multiple Acquisitions in Play to Deliver Powerful New Capabilities Incorporating Artificial Intelligence: Prestige Wealth Inc. Stock Symbol: PWM

HONG KONG, China - Nov. 18, 2024 - PRLog -- Acquisition Oriented Global Wealth Management Company Offering Custom Matched Financial Products.

Loyal Customer Case of High-Net-Worth and Ultra-High-Net-Worth Clients in Asia.

Managed Investment Funds, Plus Discretionary Account Management Services and Asset Management-Related Advisory Services to Clients.

Acquisition Plan for Tokyo Bay Providing Wealth Management, Family Affairs Services, Lifestyle Management and Value-Added Services to Clients in Japan.

Acquisition Plan for InnoSphere Tech Web Scraping Technology to Collect Data on Finance, Wealth Management and Related Industries.

Closing on Acquisition of Wealth AI Dedicated to the Transformative Potential of Artificial Intelligence in Wealth Management.

Prestige Wealth Inc. (Nasdaq; PWM) is a wealth management and asset management services provider based in Hong Kong, assisting its clients in identifying and purchasing well-matched wealth management and global asset management products. With a focus on quality service, PWM has retained a loyal customer base consisting of high-net-worth and ultra-high-net-worth clients in Asia. Through its wealth management service, PWM introduces clients to customized wealth management products and provides them with tailored value-added services. PWM provides asset management services via investment funds that it manages and also provides discretionary account management services and asset management-related advisory services to clients.

Acquisition of Tokyo Bay

On November 12th PWM announced that it entered into a definitive acquisition agreement pursuant to which PWM will purchase all shares of Tokyo Bay Management Inc., a company incorporated under the laws of the British Virgin Islands. The total purchase price is US$1,500,000, subject to customary closing purchase price adjustments, in the form of 2,500,000 newly issued Class B ordinary shares at a price per Class B ordinary share of US$0.60 to the seller and key employees of Tokyo Bay.

Tokyo Bay is a company based in Tokyo, Japan. Founded by experienced professionals, the Tokyo Bay team has accumulated extensive premium client resources and local market knowledge over the past years, providing wealth management services, family affairs services, lifestyle management services and related value-added services to high-net-worth clients in Japan.

Acquisitions of InnoSphere Tech and Closing of Acquisition of Wealth AI

On November 5th PWM entered into a definitive acquisition agreement pursuant to which PWM will purchase all shares of InnoSphere Tech Inc., a company incorporated under the laws of the British Virgin Islands. The total purchase price is US$2,100,000, subject to customary closing purchase price adjustments, in the form of 3,500,000 newly issued Class B ordinary shares of the Company at a price per Class B ordinary share of US$0.60 to the seller and key employees of InnoSphere Tech.

InnoSphere Tech is a technology company that leverages its advantages in web scraping technology to collect data on finance, wealth management, and related industries according to international standards. Through the accumulation and processing of large amounts of data, its system can train a specialized large model tailored for the wealth management industry, providing robust foundational support to clients in the financial sector that surpasses traditional general-purpose large models.

PWM also announced that, on November 4th, it completed its acquisition of all shares of SPW Global Inc., a company incorporated under the laws of the British Virgin Islands, which in turn wholly owns Wealth AI PTE LTD. or Wealth AI, a company incorporated under the laws of Republic of Singapore.

Wealth AI is a company based in Singapore that offers personalized, cost-effective wealth management solutions using artificial intelligence. Founded by AI experts from top technology companies in 2022, Wealth AI is dedicated to the transformative potential of artificial intelligence in wealth management.

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Media Contact:
Company Name: Prestige Wealth Inc.
Contact: Investor Relations Department
Email: ir@prestigefh.com
Phone: + 852 2122 8560
Country: China
Website: http://ir.prestigewm.hk