Skip to main content

Market Overview

Future Fintech To Acquire Money Transfer Company Khyber Money Exchange For $820K

Share:
Future Fintech To Acquire Money Transfer Company Khyber Money Exchange For $820K
  • Future FinTech Group Inc (NASDAQ: FTFTinked a preliminary term sheet to acquire money transfer company Khyber Money Exchange Ltd for $0.82 million (€0.69 million).
  • Future FinTech held $0.96 million in cash and equivalents as of Sep. 30, 2020.
  • "We believe that this is a high margin business that will enable us to capitalize upon an increasing level of international money flows and that it could ultimately be synergistic with the Chinese payment settlement services company, Hi-Card Business Service Co., Ltd., in which we are planning to acquire a 60% interest pending due diligence and final negotiation," said Fintech CEO, Shanchun Huang.
  • Price action: FTFT shares traded lower by 0.31% at $3.25 in the premarket session on the last check Wednesday.
 

Related Articles (FTFT)

View Comments and Join the Discussion!

Posted-In: BriefsM&A News Penny Stocks Tech Media

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com