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Supply@Me Capital signs heads of terms for Singaporean acquisition
17th Mar 2021 07:45
(Sharecast News) - Fintech firm Supply@Me Capital said on Wednesday that it had signed heads of terms for the acquisition of an unnamed commodities trade enabler based in Singapore.
Supply@Me Capital stated the acquisition would allow its platform to complete its global offering, by monetising inventory "in-transit" and generate a number of "attractive synergy benefits" for the group, from both a funding and customer origination perspective.
Following the signing of the agreement and completion of due diligence, the AIM-listed group expects to complete the acquisition within the next month.
Supply@Me said a further announcement would be made on completion of the transaction and added that it also plans to issue a trading update before the end of March.
As of 1045 GMT, Supply@Me shares were up 5.04% at 0.50p.
Supply@Me Capital stated the acquisition would allow its platform to complete its global offering, by monetising inventory "in-transit" and generate a number of "attractive synergy benefits" for the group, from both a funding and customer origination perspective.
Following the signing of the agreement and completion of due diligence, the AIM-listed group expects to complete the acquisition within the next month.
Supply@Me said a further announcement would be made on completion of the transaction and added that it also plans to issue a trading update before the end of March.
As of 1045 GMT, Supply@Me shares were up 5.04% at 0.50p.