Novatti Group Ltd. (AU:NOV) has released an update.
Novatti Group Limited has agreed to sell its entire stake in the International Bank of Australia for $2.87 million as part of a strategic reevaluation aimed at optimizing their operations and focusing on long-term financial targets, such as achieving positive cash flow. The sale follows a review that determined the bank’s need for substantial additional capital to meet regulatory requirements was not aligned with Novatti’s financial objectives. These maneuvers are part of a broader effort by Novatti to improve financial performance and streamline its business portfolio.
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