ZhongAn Technology injects $57.22m into ZA Global for digital banking expansion

ZhongAn Technology, a wholly-owned subsidiary of ZhongAn Online P&C Insurance Co., Ltd., has agreed to subscribe for up to 135,423,860 ZA Global ordinary shares at $0.4225 per share, totaling approximately $57.22 million. This capital contribution, finalized on August 29, 2025, aims to enhance ZA Global’s working capital and financial flexibility, supporting its digital banking expansion, including new product development in wealth management and Web 3.0 banking infrastructure.

The transaction also triggers an anti-dilution mechanism under the Previous Shareholders Agreement, resulting in the issuance of additional ZA Global ordinary shares at nil consideration to ZhongAn Technology, Z Fin, Warrior, and Opportunities Fund. This is due to the subscription price being lower than the adjusted purchase price. Post-subscription, ZhongAn Technology’s voting interest in ZA Global will increase to approximately 45.76%, while Z Fin's will adjust to 41.71%.

As certain applicable percentage ratios for the subscription exceed 0.1% but remain below 5%, the transaction is subject to reporting and announcement requirements under Chapter 14A of the Listing Rules. However, it is exempt from circular and Shareholders' approval requirements. The board has affirmed that the terms are fair and reasonable and in the best interests of the company and its shareholders.