OneConnect Financial Technology Co., Ltd. (NYSE : OCFT) entered into a Memorandum of Understanding to acquire a 50% stake in Shenzhen Vzoom Credit Technology Co. Ltd. on August 25, 2021. The consideration will be in a combination of cash and stock. The Memorandum of Understanding provides an exclusivity of three months from its date. The transaction is subject to the execution of the definitive agreement, OneConnect?s satisfactory due diligence and internal approval as well as any other conditions to be identified in the definitive agreement.