With the raising of capital, MoneySmart anticipates the rapid growth of the brand through investments in its membership and rewards programmes designed to deliver maximum value for its customer base. MoneySmart Plus rewards MoneySmart customers with cashback for transactions they would normally perform, and provides them with highly personalised financial product recommendations based on their profile and preferences.
Singapore-based personal finance platform, The MoneySmart Group, announced that it will be listing on the Catalist board of the Singapore Exchange (SGX) via a reverse takeover deal together with hotel operator Asia Pacific Strategic Investments (APS).
APS has been in talks for a reverse takeover of MoneySmart in a deal valued at US$161.7 million ($229.2 million), with both parties entering into the next stage of due diligence post agreement. The purchase consideration will be satisfied by the issuance of new ordinary shares in APS, which will collectively represent 80% of the enlarged share capital of the company upon the expected completion of the acquisition and a listing within the first half of 2023.
