HONG KONG, May 10, 2022 /PRNewswire/ — Best Richest Management Company Limited, a direct wholly and beneficially owned company of Mr. Mark Chan, Chairman of Wisdomcome Group (“Wisdomcome” or “the Group”), has entered into a Share Purchase Agreement with Able Rich Consultants Limited to acquire approximately 34.24% of Easy Repay Finance & Investment Limited (“Easy Repay”, stock code: 8079.HK). The consideration for the Sale Shares is approximately HK$6.58 million, representing HK$0.08 per Sale Share, payable in cash.
Easy Repay is principally engaged in the money lending business, retail and wholesale business. It has actively participated in money lending business for eight years and has built up a wide solid client base. It operates four “People’s Market” retail shops which are located in Wanchai, Lai Chi Kok, Tai Po and Kowloon Bay and an online business for the sales of grocery products. Wisdomcome has extensive experience in operating retail businesses in health food, pharmaceutical products and pet food and supplies with substantial retail network in Hong Kong. The acquisition is expected to create synergetic effect which strengthens the Group’s retail businesses in Hong Kong.
Mr. Mark Chan, Chairman of Wisdomcome, said, “The acquisition is in line with the Group’s strategy of developing diversified businesses. We believe that it can achieve complementary advantages, expanding the sales network of the retail businesses. We will continue to seize market opportunities and create enduring growth for the Group.”
About Wisdomcome Group
Wisdomcome Group was founded by Mr. Mark Chan in Hong Kong in 2003. Its brands include Wisdomcome Real Estate, Wisdomcome Investment, and Petmacy, and its businesses include but are not limited to: 1) pet product research, manufacturing and distribution; 2) health care product research, manufacturing and distribution; and 3) property investment. Another well-known brand founded by Mr. Mark Chan is Royal Medic, which is a health care brand listed in Hong Kong with market capitalization at one stage exceeding HK$5.8 billion. He retired from this company in 2020 and has since ventured into the pet category and other businesses and investments.