TD Holdings to Acquire Integrated Commodities Trading Platform STIT

Nasdaq-listed TD Holdings (Nasdaq: GLG) announced on Wednesday that it has entered into a non-binding letter of intent to acquire Shenzhen Tongdow Internet Technology (STIT), another Chinese online to offline e-commerce commodities Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term.

Under the signed agreement, TD Holdings intends to acquire between 30 percent and 65 percent of the equity interests of STIT. The deal will be closed with a cash transaction, but the amount will be determined after further due diligence.

However, both parties have already agreed on the estimation of STIT equity value to be between $145 million and $180 million.

The companies are expecting to close the acquisition deal by the end of June next year, but that will depend on the due diligence process and the signing of a definitive agreement.

Future-Proofing Commodities Trading

The prospect of the Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term came as a part of TD Holdings' strategy to bring digitization to commodities trading, thus making the industry future-proof.

“We are excited about this potential transaction, and we believe it will bring significant benefits to us as it will help the Company complete the strategic digital technology transformation of commodity trading, optimize cash flow turnover and improve profitability,” said Renmei Ouyang, CEO at TD Holdings.

“Our goal is to build an ecosystem of digital e-commerce platforms through the digital management and operation of global commodities trading and the construction of 5G smart warehouses and to provide comprehensive services to meet the customers' needs. We expect that the gross merchandise volume (GMV) of commodity trading transactions on our platform will continue to grow and increase our bargaining power of commodities pricing in the international market.”