REG - ICFG Limited - SIBJ Capital enters Investment Agreement

ICFGAnnouncement

01/04/2025 15:45

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RNS Number : 2053D  ICFG Limited  01 April 2025

1 April 2025

ICFG LIMITED

("ICFG" or the "Company")

SIBJ Capital enters Investment Agreement

 

ICFG Limited is pleased to announce that its Mongolian subsidiary, SIBJ
Capital, has entered into an investment agreement with Insur LLC ("Target"), a
leading InsurTech company in Mongolia. Established in 2018, Insur LLC
specialises in the development of digital insurance systems, advancing the
modernisation of Mongolia's insurance industry.

SIBJ Capital will invest a total of MNT 7 billion (USD 2,007,105.15) in Insur
LLC to acquire a 51% equity stake. The investment will consist of MNT 1
billion (USD 286,729.31) in common shares and MNT 6 billion (USD 1,720,375.84)
in preferred share equity.

Insur LLC will focus on digital-based insurance and pension savings business.
This strategic investment aligns with ICFG's commitment to establishing its
presence in the insurance sector, particularly within the InsurTech space, as
part of its broader mission to provide accessible financial services through
fintech innovation.

The Company will make further announcements in due course, as appropriate.

 

 For further information please contact:

 ICFG Limited                                       Via IFC
 Oliver Fox, CEO

 Strand Hanson Limited (Financial Advisor)          +44 (0) 207 409 3494

 Rory Murphy / Abigail Wennington / David Asquith

 Novum Securities (Broker)                          +44 (0) 207 399 9400

 Jon Bellis / Colin Rowbury

 IFC Advisory Limited (Financial PR and IR)         +44 (0) 203 934 6630
 Tim Metcalfe

 Zach Cohen

 

   LEI: 213800C7BC4EZQAEBT76

 

 

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