PAG entered into an agreement to acquire Changzhou Hengxuan Consulting Management Co., Ltd from Seazen Group Limited (SEHK:1030) for CNY 2.3 billion on September 26, 2023. Under the terms, consideration shall be CNY 1.4 billion along with repayment of shareholder loan of CNY 856.4 million to Changzhou Wealthzone Development Co., Ltd. PAG shall further pay an additional CNY 100 million if it is not able to submit application for the merger review to the State Administration for Market Regulation of the PRC or the payment of the consideration or the repayment of the Shareholder?s Loan for whatever reason is delayed to a date after November 30, 2023. Changzhou Hengxuan Consulting Group reported net asset value of CNY 170.1 million as at August 31, 2023.

The transaction is subject to merger review having been completed and approved by the State Administration for Market Regulation of the PRC. The transaction long stop date is December 31, 2023. Prism Hong Kong and Shanghai Kong and Limited acted as an accountant for Seazen Group Limited.