Tenet Fintech Group Inc. (CSE: PKK; OTCID: PKKFF) said on Monday, Sept. 15, 2026, that it has reached an agreement to sell its 51% ownership stake in Asia Synergy Financial Capital (ASFC) for C$10.2 million. The buyers are two directors of ASFC and a company they control. Under the agreement, the buyers have up to six months from the signing date to complete payment. If the payment is not completed within that period, ownership of the stake is to revert to Tenet. The company said no commission or finder's fee was paid in connection with the transaction.
Tenet previously held the 51% stake through nominee shareholder agreements. The company said the structure was implemented on the advice of its Chinese counsel to facilitate an eventual sale to Chinese entities or nationals. Under that arrangement, the nominee shareholders were technically the registered holders, but they held the shares on behalf of Tenet.
The divestiture is consistent with Tenet's previously announced strategy of narrowing its Chinese operations to gathering small and medium-sized enterprise data and facilitating supply-chain transactions, while removing the company from the Chinese commercial lending space. Tenet said it plans to use the proceeds to expand its ability to gather SME data in China, other parts of Asia and North America for its economic intelligence offerings. The company also said the proceeds will support continued expansion of supply-chain-related services and fund general working capital.
Tenet added that it launched a new corporate website, www.tenetfintech.com, and a new Tenoris3 website, www.tenoris3.com, to reflect its positioning as a data aggregator. The announcement also referenced Cubeler Business Hub and GoldRiver.
