HONG
KONG, June 5, 2023 /PRNewswire/ --
NASDAQ-listed, AGBA Group Holding Limited ("AGBA"), the leading
one-stop financial supermarket in Hong
Kong, today provided context for its share price performance
since the de-SPAC transaction in November
2022, which has fallen short of AGBA's expectations.
AGBA faced several technical
challenges that have contributed to an underwhelming share price
performance.
As an established decades-long market-leading distributor of
financial products, AGBA is well-known in Hong Kong, but relatively new to international
capital markets. We recognize that it requires time to demonstrate
our value proposition and build trust with our international
investors. Among the technical
factors contributing to the disappointing share price performance
before and after listing was
the compressed time window
of nine days to complete the
de-SPAC transaction. It created a
number of unusual and significant technical difficulties in the
listing process that has since impacted our share price
performance.
Going forward, AGBA is committed to engage with the
international investment community and provide in-depth materials
through an extensive investor relations program that allow
investors to be informed and up-to-date on the Group's performance
and outlook. AGBA remains committed to its long-term growth
strategy and believes that it has a solid foundation for future
success.
The latest report is available on the company's website, please
visit www.agba.com/ir
Safe Harbor Statement
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may," "will," "intend," "should," "believe," "expect,"
"anticipate," "project," "estimate" or similar expressions that do
not relate solely to historical matters, it is making
forward-looking statements. Forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company's expectations discussed in the
forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
following: the Company's goals and strategies; the Company's future
business development; product and service demand and acceptance;
changes in technology; economic conditions; the outcome of any
legal proceedings that may be instituted against us following the
consummation of the business combination; expectations regarding
our strategies and future financial performance, including its
future business plans or objectives, prospective performance and
opportunities and competitors, revenues, products, pricing,
operating expenses, market trends, liquidity, cash flows and uses
of cash, capital expenditures, and our ability to invest in growth
initiatives and pursue acquisition opportunities; reputation and
brand; the impact of competition and pricing; government
regulations; fluctuations in general economic and business
conditions in Hong Kong and the
international markets the Company plans to serve and assumptions
underlying or related to any of the foregoing and other risks
contained in reports filed by the Company with the SEC, the length
and severity of the recent coronavirus outbreak, including its
impacts across our business and operations. For these reasons,
among others, investors are cautioned not to place undue reliance
upon any forward-looking statements in this press release.
Additional factors are discussed in the Company's filings with the
SEC, which are available for review at www.sec.gov. The Company
undertakes no obligation to publicly revise these forward–looking
statements to reflect events or circumstances that arise after the
date hereof.
About AGBA Group:
Established in 1993, AGBA Group Holding Limited (NASDAQ: "AGBA")
is a leading one-stop financial supermarket based in Hong Kong offering the broadest set of
financial services and healthcare products in the Guangdong-Hong Kong-Macao Greater Bay Area
(GBA) through a tech-led ecosystem, enabling clients to unlock the
choices that best suit their needs. Trusted by over 400,000
individual and corporate customers, the Group is organized into
four market-leading businesses: Platform Business, Distribution
Business, Healthcare Business, and Fintech Business.
For more information about AGBA, please visit www.agba.com
Social Media Channels:
agbagroup
LinkedIn | Twitter | Instagram | Facebook | YouTube
View original
content:https://www.prnewswire.com/news-releases/agba-group-nasdaq-agba-comments-on-its-share-price-performance-since-listing-in-november-2022-301842241.html
SOURCE AGBA Group Holding Ltd