HKG:1152

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Momentum Financial Completes PayCools Minority Stake Transaction; Shares Fall 2%

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.

HKG:1152

Asia111d ago

Momentum Financial to Convert Convertible Bonds into Shares

Momentum Financial (HKG:1152) will convert nearly HK$7.8 million of convertible bonds into a little over 106.6 million conversion shares at HK$0.073 apiece, according to a Tuesday Hong Kong bourse filing.The move comes as the firm received conversion requests from Li Yang and Wang Guangwen.The shares represent around 3.11% of the finance leasing company's enlarged issued share capital.The bonds were issued as part of the company's debt restructuring.

HKG:1152

Asia119d ago

Momentum Financial Launches HK$21 Million Share Placement to Fund E-Commerce, Web3 Push

Momentum Financial (HKG:1152) plans to raise net proceeds of about HK$20.5 million through a share placement, according to a Tuesday Hong Kong bourse filing.The company agreed to place up to 104.3 million new shares at HK$0.20 apiece, representing discounts of 20% to the last closing price and 18.6% to the five-day average closing price.The new shares represent about 3.1% of the company's existing issued share capital and about 3% of the enlarged share capital after the placement.Momentum Financial said about 73% of the proceeds will be used for cross-border e-commerce businesses, while the remainder will fund AI- and Web3-driven e-wallet payment solutions and general working capital.

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