Catalist-listed Ayondo completes sale of Ayondo Markets

But shares remain suspended until firm addresses going concern and business viability issues

Published Thu, Jun 6, 2019 · 09:50 PM

Singapore

FINTECH company Ayondo has completed the disposal of its entire stake in Ayondo Markets Limited (AML), though shares in the Catalist-listed firm will remain suspended until it is able to address issues on its business viability.

The deal was completed on June 5, and AML will cease to be an indirect subsidiary of Ayondo, as all conditions precedent to the proposed disposal have been fulfilled and/or waived, the company said.

On May 8, Ayondo announced that it planned to sell AML for £5.7 million (S$10.2 million) to Netherlands-registered BUX Holdings, a white-label partner of the trading platform develop…