10:33 AM EDT, 03/28/2024 (MT Newswires) -- Highest Performances Holdings ( HPH ) said Thursday it agreed to acquire a nearly 78% stake in Singapore White Lingjun, a subsidiary of Singapore White Group.

The wealth management firm said it will issue 20.8 million American depositary shares, which are equivalent to 31.1 million ordinary shares, to White Group.

Singapore White Lingjun is a developer and manufacturer of artificial intelligence Humanoid hardware products, the company said.

The transaction is expected to be completed by June, the company said.

Shares of Highest Performances ( HPH ) rose more than 12% in recent trading.

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