Phoenix Wealth (Cayman) Asset Management Limited signed an agreement to acquire 71.8% stake in Vixtel Technologies Holdings Limited (SEHK:1782) from Sino Impact Limited, Worldgate Ventures Limited, Silver Coral Developments Limited, Hugemind Investments Limited, Cohort Investments Limited Copious Link Investments Limited for approximately HKD 250 million on January 12, 2022. The Consideration was financed by the internal resources. As per the transaction, Phoenix Wealth (Cayman) Asset Management Limited will acquire 364.75 million shares at HKD 0.6811 per share. In a related transaction, Phoenix Wealth (Cayman) Asset Management Limited made an offer to acquire a 28.2% stake in Vixtel Technologies Holdings Limited for HKD 97.6 million on January 12, 2022. Rainbow Capital (HK) Limited acted as financial advisor for Phoenix.

Phoenix Wealth (Cayman) Asset Management Limited completed the acquisition of 71.8% stake in Vixtel Technologies Holdings Limited (SEHK:1782) from Sino Impact Limited, Worldgate Ventures Limited, Silver Coral Developments Limited, Hugemind Investments Limited, Cohort Investments Limited Copious Link Investments Limited on January 13, 2022.