KUALA LUMPUR (Dec 24): CTOS Digital Bhd has proposed to buy a 49% stake in fintech specialist Juris Technologies Sdn Bhd (JurisTech) for RM205.8 million, cash, the group’s largest-ever acquisition since its inception. According to CTOS Digital, JurisTech is a leading Malaysia-based fintech company that specialises in enterprise-class software solutions for banks, financial institutions, insurance, and telecommunication companies. This partnership with CTOS Digital will propel us to fulfil our vision of delivering frictionless financial transactions and drive greater financial inclusion and technology innovation in credit decisioning,” she said. To fund the purchase, CTOS Digital plans to undertake the private placement of new shares, representing up to 10% of its current 1.1 billion outstanding shares. If the proceeds are insufficient to cover the BOL acquisition, CTOS Digital plans to procure bank borrowing.

Source: The Edge Markets December 24, 2021 17:05 UTC