I thought the cash was going to be used to accelerate their growth in SE Asia. It’s confusing that they spent almost all of it in a niche and captive Malaysian business without any control. Where does this minority holding in IDSB sit in IOU’s growth plan? I am also curious as to why purchase price is paid in cash without any performance hurdle/earn-out..it’s just not prudent capital management when the amount is ~90% of your capital raised.
$1 Club, page-24627
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