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The latest announcement is out from Fatfish Group Ltd. ( (AU:FFG) ).
Fatfish Group Limited has announced its intention to acquire the Australasian assets of its subsidiary, Abelco Investment Group AB. This acquisition will see FFG directly owning Fatfish Internet Pte. Ltd., which includes strategic assets like shares in iCandy Interactive Ltd and the ASEAN Fintech Group. The transaction, primarily a debt-to-equity swap, aims to simplify FFG’s corporate structure and reduce Abelco’s debt burden, enhancing its balance sheet and allowing it to focus on venture building in its Scandinavian market. The acquisition is subject to Abelco shareholder approval, where FFG will abstain from voting due to a conflict of interest.
More about Fatfish Group Ltd.
Fatfish Group Limited (ASX: FFG) is a publicly traded tech venture firm with operations in Southeast Asia and internationally, focusing on the fintech, gaming, and other technology sectors. The company holds a majority stake in Abelco Investment Group AB, a Swedish-listed entity, and operates innovation hubs in Kuala Lumpur, Singapore, and Stockholm.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $8.78M
See more insights into FFG stock on TipRanks’ Stock Analysis page.