Fintech Asia set to acquire ICFG, company rebranded by Investing.com

LONDON – FinTech Asia Limited (LON:FINA), a financial technology company focused on the Asian market, has announced the publication of a prospectus for its proposed acquisition of ICFG Pte. Ltd., a financial services group. The transaction is structured to change FinTech Asia’s business scope and upon completion will enable the company to change its name to ICFG Limited.

The acquisition, which is regulated under the UK Financial Conduct Authority’s listing rules, will see FinTech Asia issue 177,840,000 new ordinary shares at 64 pence each to acquire all of ICFG’s capital. The move will integrate ICFG’s diverse portfolio into fintech Asia operations, including financial services, investment banking, AI and IT services, and real estate development.

ICFG’s financial services arm, InvesCore NBFI JSC, is a key player in the microfinance sector in Mongolia, Kyrgyzstan, Kazakhstan and Uzbekistan, offering a range of innovative fintech solutions. Its investment banking division, InvesCore Capital LLC, provides advisory services and access to capital markets, while AI Lab LLC focuses on fintech and digital banking technology. InvesCore Property LLC manages real estate investments.

The acquisition is subject to shareholder approval at a special general meeting scheduled for February 11, 2025. If approved, the Company will issue its ordinary shares at London Stock Exchange (LON: ) will launch around February 12, 2025.

FinTech Asia CEO Oliver Fox expressed his confidence in the acquisition, highlighting ICFG’s scalable business model and its potential to create shareholder value through its advanced technology solutions in the microfinance sector.

The prospectus is available on the Fintech Asia website and submitted to the National Depository Mechanism for public scrutiny. This strategic move aims to enhance the company’s position in providing innovative financial services to emerging economies.

This article is based on a press release issued by Fintech Asia Limited.

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