Fintech Asia set to acquire ICFG, change company name By Investing.com

LONDON – Fintech Asia Limited (LON:FINA), a financial technology company focused on the Asian market, has published a prospectus regarding its proposed offering of ICFG Pte. Ltd., a financial services group. The transaction aims to change the size of the Fintech business in Asia and will result in the company being renamed ICFG Limited upon completion.

The takeover, which is part of a takeover under the UK Financial Conduct Authority’s Listing Rules, will see Fintech Asia issue 177,840,000 new ordinary shares with a par value of 64 cents a share for the entire acquisition provided by ICFG. This operation will bring together various divisions of ICFG, including financial services, investment banking, AI and IT services, and infrastructure development, in the implementation of Fintech Asia.

ICFG’s financial services division, InvesCore NBFI JSC, is a key player in the microfinance sector across Mongolia, Kyrgyzstan, Kazakhstan and Uzbekistan, providing innovative fintech solutions. The investment banking division, InvesCore Capital LLC, provides advisory services and access to financial markets, while AI Lab LLC focuses on fintech and digital banking technology. InvesCore Property LLC manages real estate investments.

The purchase is subject to shareholder approval at the Extraordinary General Meeting scheduled for February 11, 2025. If approved, the company expects the transaction of its common shares to London Stock Exchange (LON:) will start on March 12, 2025.

Fintech Asia CEO, Oliver Fox, expressed confidence in the purchase, highlighting ICFG’s risky business model and the opportunity to create shareholder value through its advanced technology solutions in the microfinance sector.

The prospectus is available on the Fintech Asia website and has been submitted to the National Storage Mechanism for public inspection. This strategic move aims to raise the company’s standards in providing innovative financial services to developing economies.

This article is based on a press release from Fintech Asia Limited.

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