Brainhole Tech invests in BigBear, trims Affirm stake

Brainhole Technology Limited (HKEX:2203) announced it acquired 220,800 shares of BigBear through open market transactions on February 11, 2025, for approximately US$1.9 million (HK$15.0 million), excluding costs. Concurrently, the company disposed of 28,600 Affirm shares on the same day, generating proceeds of about US$2.2 million (HK$16.8 million), excluding costs. The acquisition of BigBear shares will expand its investment portfolio. The disposal of Affirm shares will give the company an approximate gain of US$0.5 million (HK$3.8 million), and the proceeds will be used towards this recent BigBear acquisition. As a result of exceeding 5% of all applicable percentage ratios, both transactions qualify as discloseable transactions under the Listing Rules of the Hong Kong Stock Exchange.