There is nothing more dangerous than a speculator not knowing...

There is nothing more dangerous than a speculator not knowing the full meaning of a report.

An acquisition is a corporate action in which one company purchases most or all of another company's shares to gain control of that company.

FFG wishes to inform the market that the suspension is requested pending the Company’s response to queries put to it by ASX, with regards to a pending announcement involving a material acquisition of the Company, “which has synergies to the Company’s existing buy-now-pay-later businesses.'

Just to add more fuel to the fire I will add the Blackberry Insurance “symergise’ quote some time back from report and SmalCaps.

………Fatfish has revealed its insurance technology subsidiary Fatberry expanded its revenue by 6,800% over eight months – making it Fatfish’s fastest growing investee in revenue terms.

To boost this growth further, Fatberry has raised $800,000 via a pre-series A funding round.

Fatfish participated in the funding round – contributing a direct $285,000, while its other subsidiary Abelco Investment Group put in $329,00

The direct and indirect contributions expand Fatfish’s ownership in Fatberry from 53.3% to 61%.

Fatfish noted both Abelco and itself had funded the investment from their respective working capital pools.

Fatberry chief executive officer John Tan said the proceeds from the funding round will enable the company to continue making it “as easy as possible” for customers to purchase insurance via its platform.

Meanwhile, Fatfish chief executive officer Kin Lau said consumers will continue preferring to purchase insurance via digital platforms.

“It is an unstoppable macro-trend.”

“We are excited about the prospect of Fatberry, and

“we can see lots of synergies between Fatberry’s insurance platform and our buy now pay later business,”

Mr Lau added.

Fatfish said then that Fatberry has “transformed” the way people purchase insurance products in Malaysia.

Between June 2020 and February 2021, Fatberry’s platform growth averaged more than 100% month-on-month.

This drove monthly revenue for the same period up 6,800% to reach a monthly figure of $175,000.

According to Fatfish, this growth momentum is expected to continue over the next 24 months.

Fatfish noted Fatberry was currently its fastest growing investee in terms of revenue.

—————

Okay I get the e-bank speculation and then also a full ownership of Fatberry Insurance wouldn’t go astray for revenue add for motor purchase cover for staters but it’s speculation again.

Ha, best we speed read the announcement in its fullness and assess for investment needs and value at that time only.

GLAH