Minnadeooyasan-Hanbai Co., Ltd. signed conditional, non-legally binding heads of terms to acquire Bowen Fintech Plc (LSE:BWN) for £27.5 million in a reverse merger transaction on December 22, 2023. The consideration will be satisfied in stock. Upon completion, Kyosei Bank will hold 80.7% of the stake in Bowen Fintech.

Cairn Financial Advisers LLP served as financial advisor to Bowen Fintech.