Australia's Fatfish at near 3-year high on buy-now-pay-later plans

Abelco Investment AB

25/11/2020 24:45

** Tech investor Fatfish Group  FFG.AX  jumps 34.8% to
A$0.062 after announcing it would back the launch of a
buy-now-pay-later (BNPL) offering in Southeast Asia 
    ** Fatfish shares climb to their highest level since March
2018, while seeing their biggest jump in nearly a month
    ** Fatfish says Smartfunding granted a capital market
services license in Singapore and will operate the BNPL platform
for companies in the city-state and region
    ** The BNPL service will target small-to-medium size
companies looking for loans between S$25,000 and S$1 million
over a one- or two-year period 
    ** Fatfish is launching in the largely unpenetrated
Southeast Asian market, and tapping companies unlike rival BNPLs
that target consumers
    ** Afterpay  APT.AX  recently announced it was launching in
Singapore 
    ** Fatfish will raise its direct stake in Smartfunding by
19.9%, with its majority-owned Swedish unit Abelco  ABIGR.NGM 
holding close to 60%

 (Reporting by Nikhil Kurian Nainan)
 ((NikhilKurian.Nainan@thomsonreuters.com; Twitter:
@NikhilKurianN))