Fintech Asia, an investment company established to acquire businesses focused on improving the delivery and use of financial services in Asia, has announced its intention to float on the Main Market of the London Stock Exchange with trading in the company's shares expected to commence on or around September 15, 2022.
In a statement, Oliver Fox, CEO of Fintech Asia, said: "I am delighted to announce the plans to list Fintech Asia on the London Stock Exchange. We believe there are attractive long-term acquisition opportunities in our chosen sector. We plan to use Fintech Asia as a vehicle to acquire one or more exciting businesses in these areas in order to generate attractive returns for our shareholders."
The company said it has raised £1,455,000 through the placing of 3,010,000 ordinary shares of no par value, with net proceeds of £841,845.
Fintech Asia was incorporated on May 28, 2021, to undertake the acquisition of one or more companies or businesses in the Fintech sector, that offer new technologies that seek to improve and automate the delivery and use of financial services, primarily targeting the Asia-Pacific region.
The company said its directors expect that the target business will have a Fintech-related business model which will allow it to expand globally. While there is no restriction as to the geographical location of the target business, they expect that the first acquisition(s) will likely target a business in the Asia-Pacific region or businesses with the potential to expand quickly into the Asia-Pacific region, due to the extensive experience and network of the company's CEO, advisors, and key management personnel.
The acquisition may comprise of the acquisition of a single company or business, or a series of acquisitions by way of a "roll-up" strategy whereby the company acquires and merges several businesses in a particular sector. The benefits of this strategy include the reduction of total overhead costs, leveraging a diverse client base, speed to enter new markets and possibly having a wider geographical reach, it said.
A prospectus has been published in connection with the proposed admission and is available on the company's website at: https://fintechasialtd.com/reports-documents/