Prosperous Future (HKG:1259) is starting an insurance business within its financial business segment to enhance its current business operations.
A Cayman Islands incorporated subsidiary of the company has already obtained the license to do insurance business from the Cayman Islands Monetary Authority, a Tuesday filing with the Hong Kong Exchange said.
The group will be offering private placement life insurance, including both death benefit protection and accumulative investment growth opportunities to the policyholder.
The frozen food and beverages provider's shares closed nearly 12% lower on Tuesday.
Price (HKD): $0.06, Change: $-0.0080, Percent Change: -11.76%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.