April 1, 2021 @ 8:26 pm By Omar Faridi
Atome Financial, the parent firm of Buy Now, Pay Later (BNPL) company Atome, has reportedly finalized its acquisition of financing service provider PT Mega Finadana Finance in Indonesia. The terms of the deal have not been shared publicly.
The acquisition should help Atome Financial with expanding its operations across Indonesia, particularly in the consumer financing space.
After the deal has been finalized, PT Mega Finadana Finance will be changing its name to PT Atome Finance Indonesia.
Atome Financial includes two primary business divisions, Atome and Kredit Pintar – which is an Indonesia-based digital lending service that’s licensed by OJK. The company reports more than 10 million mobile app downloads and currently has a 4.8-star rating on the Google Play Store.
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GIC to invest $222m in Gojek-backed Indonesian lender Bank Jago via rights issue
REUTERS/Beawiharta
Singapore’s sovereign wealth fund GIC Private Limited is the latest investor in Indonesia’s Bank Jago.
The fresh investment by GIC, worth Rp3.15 trillion ($222.48 million), will be made by absorbing 1.19 billion new shares of Bank Jago through a rights issue, according to a disclosure to the Indonesia Stock Exchange (IDX).
Bank Jago, which is backed by the ride-hailing giant Gojek, will issue 3 billion new shares with an execution price of Rp2.350 per share. The rights issue will be conducted on March 10-17 in the regular market.