Supply@ME Capital PLC (LON:SYME) announced it signed an initial agreement to buy a FinTech-powered commodities trade enabler, focused on small and medium-sized enterprises, based in Singapore.
The fintech platform said the acquisition will allow its platform to complete its global offering by monetising inventory, commodities in particular, "in-transit".
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It would also generate a number of attractive synergy benefits for SYME from both a funding and customer origination perspective, the company added.
The transaction is expected to complete within the next month once the relevant agreements are signed and due diligence is carried out.