Australia's Fatfish Group gains on deal with Forever Pay for BNPL rollout
12/04/2021 04:39
** Tech venture firm Fatfish Group Ltd FFG.AX gains as
much as 12.5% to A$0.135
** FFG signs deal to buy 85% stake in Malaysia's Forever Pay
Sdn to enter retail Buy-Now-Pay-Later (BNPL) and other
consumer-oriented digital financing business via Forever Pay
urn:newsml:reuters.com:*:nASN00125L
** Co says consideration to buy 85% in Forever Pay will be
about A$870,000 ($661,635.00)
** FFG says acquisition will allow it to utilize Forever
Pay's lending license to enter retail BNPL business and further
positions FFG as a comprehensive BNPL player in Southeast Asia
** Forever Pay's businesses will have synergies with
existing BNPL and financing business of Smartfunding Pte. Ltd.,
FFG's Singapore unit
** Stock had risen over three-fold this year as of last
close
($1 = 1.3149 Australian dollars)
(Reporting by Aditya Munjuluru in Bengaluru)
((aditya.srivastsav@thomsonreuters.com))