Achiko Limited / Key word(s): Investment
Achiko Limited announces USD$4m capital increase
Zurich, 17 June 2020 - Achiko Ltd. (ISIN KGY0101M1024), a FinTech company listed on the SIX Swiss Stock Exchange, announced that it has successfully completed the subscription for USD$2m at a price of USD$1 per share from PT Media Nusantara Citra Tbk ("MNC") along with a term sheet with another party for a USD$2m convertible facility, to be completed within 20 days.
The announcement follows the company's progress with its Achiko Platform and Teman Sehat, the group's vertical market application as a solution for governments to respond to the Covid-19 pandemic. This public health crisis calls for innovation in testing and telemedicine ecosystems. Achiko intends to continue with its other platform applications in consumer credit, games and entertainment and other services later in the year based on market conditions.
The funds will be applied to the marketing and promotion of the platform and for general working capital.
By refining its technology and operations stack in Indonesia first with subsequent expansion to other countries, the company then aims to deliver services across a range of industry verticals such as Game Payments, Buy Now / Pay Later, ECommerce Services and others directly and indirectly.
Achiko has significant shareholders such as MNC Group, the largest media company in Southeast Asia. Its shareholder base also includes MOX, China's largest venture capital company focussing exclusively on the mobile sector and one of the three largest global VC companies in this field.
Further information can be found at investor.achiko.com.
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