Momentum Financial Holdings (HKG:1152) has completed its 2% stake acquisition in cross-border payments firm PayCools Cayman, according to a Monday filing with the bourse.
The company said it issued 92.1 million shares worth $3 million to PayCools, in exchange for 250,000 Series A+ Preferred Shares of the payments firm.
Following the transaction, Momentum's total issued shares stood at 3.59 billion, up from 3.50 billion.
Shares were last down 2% in afternoon trading on Tuesday.