Singapura Finance disposes of entire stake in PowerBank for US$1 mil via preference shares issued in MatchMove

Atiqah Mokhtar
Atiqah Mokhtar5/24/2021 5:57 PM GMT+08  • 2 min read
Singapura Finance disposes of entire stake in PowerBank for US$1 mil via preference shares issued in MatchMove
The disposal has increased Singapura Finance's stake in MatchMove to 1.9%.
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Singapura Finance has disposed of all of its shares in MatchMove PowerBank (PowerBank), a subsidiary of MatchMove Pay (MatchMove), to MatchMove for a consideration of US$1 mil ($1.33 million).

The shares represent approximately 10% of PowerBank’s share capital.

The sales consideration was satisfied by the issuance of 117,371 preference shares in MatchMove. To that end, Singapura Finance’s shareholding in MatchMove has increased from 1.6% to 1.9% of MatchMove’s share capital on a fully diluted basis.

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