Raffles Financial Announces Strategic Cooperation - Shanghai Lingang Free Trade Zone Technology Hub
Singapore, October 26, 2020 – Raffles Financial Group Limited(CSE: RICH) (FSE: 4VO) (OTC: RAFFF) today announced that its wholly owned subsidiary Raffles Financial Private Limited (“Raffles”) has entered into a 3-Year Strategic Cooperation Agreement (the “Agreement”) with Shanghai Lingang Technology Entrepreneurship Center Co., Ltd. (“Lingang”) on October 22, 2020 (the “Cooperation”).
Raffles, equipped with professional background and experience in corporate finance, will support Lingang in building an incubation centre for fast-growing tech firms with leading disruptive technologies. Raffles’ role is to assist in screening, inviting, coaching, developing “mega unicorn potential” companies with the aim to secure funding via public listing on major stock exchanges worldwide.
“Lingang has 17 hubs, hosting more than 20,000 high-tech firms, spread across the key provinces in China and Raffles’ mandate is to provide these and future hubs with the full suite of Raffles Financial solutions including bespoke services designed for Lingang like the Unicorn Acceleration Program,” explained Dr. Charlie In, Chairman of Raffles.
Raffles will also provide the Lingang companies with advisory and arrangement services in financing restructuring, overseas listing, mergers and acquisitions, overseas trusts, global strategic alliances, investor relations, post-listing market development and corporate governance.
About Lingang Technology Hub
Shanghai Lingang Technology Entrepreneurship Center Co., Ltd. ("Lingang") is located in the International Innovation Collaboration Zone of the Lingang New Area of China (Shanghai) Pilot Free Trade Zone (“FTZ”), established in August 2019, that serves as a national technology incubation hub. The FTZ priority is to attract ‘mega unicorn’ technology companies into Lingang with preferential governmental policies and tax rates, seamless cross-border financial, talent, and technology transfers starting with the Shanghai Technology Exchange.
Technology players in the artificial intelligence, biotech, green energy & environment technologies, financial technologies, integrated circuits and life sciences will be invited to house their HQ in Lingang. Lingang is now home to global firms like Tesla, BMW, General Electric (GE), and Siemens.
About Raffles Financial Group Limited (CSE: RICH) (GR: 4VO) (OTC: RAFFF)
Raffles Financial Pte Ltd (a wholly owned subsidiary of Raffles Financial Group Limited) is an exempt corporate finance advisory firm, registered with the Monetary Authority of Singapore, which provides public listing advisory and arrangement services. Raffles Financial serves as advisor for family trusts, family offices and investment funds. Please visit www.rafflesfinancial.co for more information.
For more information, please contact:
Cathy Hume, Investor Relations
Phone: 416-868-1079 x 231
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