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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