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Prestige WealthNASDAQ: PWM

Profile

Country:

Hong Kong

IPO:

07 July 2023

Next earnings report:

N/A

Last dividends:

N/A

Next dividends:

N/A
$9.24 M
-95%vs. 3y high
3%vs. sector
-vs. 3y high
-vs. sector
-96%vs. 3y high
60%vs. sector
-vs. 3y high
-vs. sector

Price

regular market | 61 min ago
$1.01+$0.03(+3.06%)

Dividend

No data over the past 3 years
No data over the past 3 years
No data over the past 3 years
No data over the past 3 years

Analysts recommendations

Institutional Ownership

PWM Latest News

Prestige Wealth Inc. Announces Acquisition of Tokyo Bay
globenewswire.com12 November 2024 Sentiment: POSITIVE

HONG KONG, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Prestige Wealth Inc. (NASDAQ: PWM) (“PWM”, or the “Company”), a wealth management and asset management services provider based in Hong Kong, today announced that, on November 12, 2024, it entered into a definitive acquisition agreement pursuant to which PWM will purchase all shares of Tokyo Bay Management Inc. (“Tokyo Bay”), a company incorporated under the laws of the British Virgin Islands. The total purchase price is US$1,500,000, subject to customary closing purchase price adjustments, in the form of 2,500,000 newly issued Class B ordinary shares of the Company at a price per Class B ordinary share of US$0.60 to the seller and key employees of Tokyo Bay. The Company will also grant warrants to purchase 1,875,000 Class A ordinary shares of the Company at an exercise price per share equal to US$0.72 to the seller parties. The warrants will become exercisable on the six-month anniversary of the issuance date and will expire on the fifth anniversary from the date on which they become exercisable. In addition, key employees will be retained and continue to be employed by Tokyo Bay after closing of the transaction. The acquisition agreement also includes a third-year period non-competition and non-solicitation covenants from the seller parties. Upon consummation of the acquisition of Tokyo Bay, that certain business development & marketing agreement by and between PWM and Tokyo Bay dated as of June 24, 2024 will be terminated. The acquisition of Tokyo Bay is expected to close in the fourth quarter of 2024 and will enhance PWM's strategy and development in Asia wealth management industry.

Prestige Wealth Inc. Announces Acquisitions of InnoSphere Tech and Closing of Acquisition of Wealth AI
globenewswire.com08 November 2024 Sentiment: POSITIVE

HONG KONG, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Prestige Wealth Inc. (NASDAQ: PWM) (“PWM”, or the “Company”), a wealth management and asset management services provider based in Hong Kong, today announced that, on November 5, 2024, it entered into a definitive acquisition agreement pursuant to which PWM will purchase all shares of InnoSphere Tech Inc.(“InnoSphere Tech”), a company incorporated under the laws of the British Virgin Islands. The total purchase price is US$2,100,000, subject to customary closing purchase price adjustments, in the form of 3,500,000 newly issued Class B ordinary shares of the Company at a price per Class B ordinary share of US$0.60 to the seller and key employees of InnoSphere Tech. The Company will also grant warrants to purchase 2,625,000 Class A ordinary shares of the Company at an exercise price per share equal to US$0.72 to the seller parties. The warrants will become exercisable on the six-month anniversary of the issuance date and will expire on the fifth anniversary from the date on which they become exercisable. In addition, key employees will be retained and continue to be employed by InnoSphere Tech after closing of the transaction. The acquisition agreement also includes a third-year period non-competition and non-solicitation covenants from the seller parties. The acquisition of InnoSphere Tech is expected to close in the fourth quarter of 2024 and will enhance PWM's technology strength in artificial intelligence space and facilitate PWM's development of AI-driven technology services to business clients in wealth management area.

Prestige Wealth Inc. Announces Acquisition of Wealth AI, an AI-Driven Wealth Management Solution Provider
globenewswire.com23 August 2024 Sentiment: POSITIVE

HONG KONG, Aug. 23, 2024 (GLOBE NEWSWIRE) -- Prestige Wealth Inc. (NASDAQ: PWM) (“PWM”, or the “Company”), a wealth management and asset management services provider based in Hong Kong, today announced that, on August 20, 2024, it entered into a definitive acquisition agreement pursuant to which PWM will purchase all shares of SPW Global Inc, a company incorporated under the laws of the British Virgin Islands, which in turn wholly owns Wealth AI PTE LTD. or Wealth AI, a company incorporated under the laws of Republic of Singapore. The total purchase price is US$4,500,000, subject to customary closing purchase price adjustments, with US$3 million being paid in cash and the remaining US$1.5 million being settled in the form of 1,900,000 class A ordinary shares and 500,000 class B ordinary shares of the Company issuable to the seller and key employees of Wealth AI. In addition, key employees will be retained and continue to be employed by Wealth AI after closing of the transaction. The acquisition agreement also includes a third-year period non-competition and non-solicitation covenants from the seller parties. The transaction is expected to close in the fourth quarter of 2024 and will enhance PWM's technology strength in artificial intelligence space and facilitate PWM's development of next-generation AI-driven wealth management solutions for its clients.

Prestige Wealth (PWM) stock has gone parabolic but faces risks
Invezz07 March 2024 Sentiment: POSITIVE

Prestige Wealth (NASDAQ: PWM) stock price jumped sharply on Wednesday as it went through a strong short squeeze. It jumped by more than 43% in the regular session and over 24% in the extended hours.

PWM Stock Alert: What Is Going on With Prestige Wealth Shares?
InvestorPlace07 July 2023 Sentiment: POSITIVE

The shares of Prestige Wealth (NASDAQ: PWM ), a Hong Kong-based wealth management and asset services provider, just started trading yesterday. Today PWM stock is trending on social media and is up more than 120%.

Prestige Wealth stock: Learn from TOP, AMTD and avoid PWM
Invezz07 July 2023 Sentiment: POSITIVE

Prestige Wealth Inc (NASDAQ: PWM) stock price made headlines on Thursday when it almost doubled on its first trading day. The shares jumped to $5.40 on Thursday, giving it a market cap of over $48 million.

Prestige Wealth IPO Lifts Hong Kong Stocks TOP, HKD, MEGL
InvestorPlace07 July 2023 Sentiment: POSITIVE

Shares of Hong Kong wealth management firm Prestige Wealth (NASDAQ: PWM ) are surging higher more than 100% today following its initial public offering (IPO) yesterday. During the IPO, 1 million shares were offered to the public at an initial price of $5 per share.

What type of business is Prestige Wealth?

Prestige Wealth Inc., through its subsidiaries, provides wealth management and asset management services. It assists its clients in identifying and purchasing wealth and asset management products. The company offers its services primarily for high net worth and ultra-high net worth individuals, including business owners, executives, heirs of rich families, and other affluent individuals in Asia primarily in the mainland China or Hong Kong. The company was incorporated in 2018 and is based in Central, Hong Kong. Prestige Wealth Inc. is a subsidiary of Prestige Financial Holdings Group Limited.

What sector is Prestige Wealth in?

Prestige Wealth is in the Financial Services sector

What industry is Prestige Wealth in?

Prestige Wealth is in the Asset Management industry

What country is Prestige Wealth from?

Prestige Wealth is headquartered in Hong Kong

When did Prestige Wealth go public?

Prestige Wealth initial public offering (IPO) was on 07 July 2023

What is Prestige Wealth website?

https://www.prestigewm.hk

Is Prestige Wealth in the S&P 500?

No, Prestige Wealth is not included in the S&P 500 index

Is Prestige Wealth in the NASDAQ 100?

No, Prestige Wealth is not included in the NASDAQ 100 index

Is Prestige Wealth in the Dow Jones?

No, Prestige Wealth is not included in the Dow Jones index

When was Prestige Wealth the previous earnings report?

No data

When does Prestige Wealth earnings report?

Next earnings report date is not announced yet