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TechFinancials plunges after pulling plug on sale of subsidiaries

The £9mln-valued company was in line to receive US$400,000 from the sales
TechFinancials will continue to focus its attention on developing its forex and CFD trading platform solutions

Lack of progress on regulatory consents has put the kibosh on TechFinancials Inc’s (LON:TECH) proposed sale of what it considers non-core businesses.

The shares plunged 13.9% to 15.5p after the technology provider to financial trading brokers pulled the plug on the sale of its shareholdings in B O TradeFinancials (BOT) and MarketFinancials (MF) to S Win Holdings.

READ: TechFinancials sells two subsidiaries for US$400,000

The Israeli technology firm is currently considering its options in respect of its shareholdings in BOT and MF.

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