Quwan Holding Limited signed an agreement to acquire Vision Deal HK Acquisition Corp. in a reverse merger transaction.

Quwan Holding Limited signed an agreement to acquire Vision Deal HK Acquisition Corp. (SEHK:7827) in a reverse merger transaction on December 8, 2023. The transaction will result in merger of Vision Deal and listing of Quwan Holding on the stock exchange.

Completion is subject to approval by shareholders of Vision Deal and Quwan, approval from the stock exchange regarding listing of resulting entity shares, filing with the China Securities Regulatory Commission, available cash being no less than HKD 600 million and completion of private placement transaction. The transaction is expected to complete in the first quarter of 2024.