Ridder Trader Group hereby announce a good news for its shareholders and investors that after the hard work for the past 1 year in sourcing and discussing for the right acquisition of RTO in OTC market, United States, the group has now successfully taken over controlling stake of a OTC company Uxxx (Due to current restructuring process, the actual name of the company will be announce later).
Ridder Trader Group has achieved satisfactory results after operation of 3 years. The group has growth rapidly and successfully established good reputation and confidence to the market and having a large number of investors which are long term based and they want to grow together with us, according to the President of Ridder Trader Group , Mr. Pan Cheng Xi.
Mr. Pan also quoted that the group has now expanded throughout the world and it is the right timing for them to operate as an international corporation. Therefore, on the 25th July 2023, the group has clocked a new mileage that Ridder Trader Group has officially acquired controlling stake of a listed OTC company in United States and his team is now injecting assets and projects into the company.
Pan Cheng Xi also explained in an interview saying that the intention of acquisition has actually begun a year ago but due to international operations and communication, he and his team has gone through numerous negotiations and considerations before the final decision of this acquisition.
The next move is to change the company name, restructure the company, appointing new board of directors and also the shareholders. Mr. Pan will be also taking up the position of Vice President in the new establishment and to make sure that the management team will run the company in a professional method.
Vice President Mr. Pan also revealed that the current stock price does not reflect the actual value of the company as prior to this acquisition, the company was in shell status and no business activities. Ridder Trader Group is in the midst of injecting assets and projects into the company and to ease the operations in Asia countries, the company is also planned to setup subsidiary companies in a few countries like Hong Kong, Singapore and Malaysia.
The core business will be focusing on providing financial products, which includes commercial hedging, payment gateway, certificates and technology research & development. Mr. Pan says, the detail of all projects will be further announced once the company name has been changed and all relevant management team and board of directors has been appointed.
Regarding the forecast of the listed company's future stock price, Vice President Mr. Pan said that based on the current group's business and the assets and projects that will be executed, the company is planned to be listed in Nasdaq or NYSE in the next 2 years.
