In a strategic move to bolster its leading position in Greater Southeast Asia’s fintech and digital insurance sector, MoneyHero Limited (NASDAQ: MNY) has made a non-binding offer to acquire 100% of MoneySmart shares. Valued at US$8.0 million with potential for additional cash payments pending due diligence results, the offer underscores the synergistic potential of merging the two companies. MoneySmart, the second-largest player in the market, underwent a recent capital reduction, reflecting its appeal to MoneyHero. Rohith Murthy, CEO of MoneyHero, emphasized the enhanced products, services, and technological innovations this acquisition will bring. The consolidated entity aims to unlock significant synergies, ultimately driving shareholder and customer value.
Fintech, Digital Insurance,Singapore, Greater Southeast Asia
https://www.globenewswire.com/news-release/2024/08/22/2934530/0/en/MoneyHero-Group-Announces-Non-Binding-Offer-to-Acquire-MoneySmart.html