Atlas Culture Entertainment & Media Investment Limited entered into a conditional sale and purchase agreement to acquire 21.6% stake in Fintech Pte Ltd from CoAssets Limited (ASX:CA8) on April 27, 2018. Additionally, CoAssets Limited will also sell a further 5.4% interest of Fintech Pte Ltd which is to be acquired within the next month to Atlas Culture Entertainment & Media Investment Limited. The sale of the entire 27% stake in Fintech Pte Ltd will be in a form of share swap which involves the transfer of 6,480 shares in Fintech Pte Ltd to Atlas Culture Entertainment & Media Investment Limited , for consideration of 39.7 million shares in Atlas Culture Entertainment & Media Investment Limited at a deemed issue price of HKD 1 per share. In the event the 39.7 million shares in Atlas Culture Entertainment & Media Investment Limited do not realize a value of HKD 39.69 million or more within 2 years from the date of the sale and purchase agreement , CoAssets Limited has the right to buy back the 6,480 shares in Fintech Pte Ltd from Atlas Culture Entertainment & Media Investment Limited in return for the transfer of the 39.7 million shares in Atlas Culture Entertainment & Media Investment Limited to Atlas Culture Entertainment & Media Investment Limited's parent company, Advance Jade. The proposed transaction is subject to receipt of any regulatory approvals required by CoAssets Limited . Subject to satisfaction of this condition, the deal is expected to complete on before May 30, 2018. Atlas Culture Entertainment & Media Investment Limited cancelled the acquisition of 21.6% stake in Fintech Pte Ltd from CoAssets Limited (ASX:CA8) on October 3, 2018.