Prestige Wealth Inc.

Mr. Hongtao  Shi

Chairman, Chief Executive Officer & Compliance Officer

Mr. Ngat  Wong

Chief Financial Officer & Chief Operating Officer

Prestige Wealth Inc., through its subsidiaries, provides wealth management and asset management services. The company assists its clients in identifying and purchasing wealth management and asset management products. The company offers its services primarily for high net worth and ultra-high net worth individuals in Asia primarily in the mainland China or Hong Kong. The company was founded in 2017 and is based in Central, Hong Kong. Prestige Wealth Inc. operates as a subsidiary of Prestige Financial Holdings Group Limited.

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 Inc. Announces Acquisition of Wealth AI, an AI-Driven Wealth Management Solution Provider

HONG KONG, July 26, 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 July 23, 2024, the Company received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that based on the closing bid price of the Class A ordinary shares of the Company for the last 33 consecutive business days, the Company no longer meets the continued listing requirement of Nasdaq under Nasdaq Listing Rules 5550(a)(2), to maintain a minimum bid price of $1 per share.

Prestige Wealth Inc. Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency

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.

Prestige Wealth (PWM) stock has gone parabolic but faces risks

HONG KONG , Dec. 1, 2023 /PRNewswire/ -- Prestige Wealth Inc. (Nasdaq: PWM) (the "Company" or "Prestige Wealth"), a wealth management and asset management services provider based in Hong Kong, today announced its unaudited financial results for the six months ended March 31, 2023. Mr. Hongtao Shi, the Company's Chairman and Chief Executive Officer, commented, "Reflecting upon the first half of fiscal year 2023, we faced some undeniable headwinds in our wealth management business, largely stemming from the ramifications of the COVID-19 pandemic.

Prestige Wealth Inc. Announces First Half of Fiscal Year 2023 Financial Results

Hong Kong, July 31, 2023 (GLOBE NEWSWIRE) -- Prestige Wealth Inc. (Nasdaq: PWM) (the “Company” or “Prestige Wealth”), a wealth management and asset management services provider based in Hong Kong, today announced that the Company will change its business address and mailing address to Suite 3201, Champion Tower, 3 Garden Road, Central, Hong Kong, effective July 31, 2023.

Prestige Wealth Inc.PWM

Prestige Wealth Inc.
PWM