Achiko Limited announces USD$4m capital increase
Zurich, 17 June 2020 - Achiko Ltd. (ISIN KGY0101M1024), a FinTech company listed on the SIX Swiss Stock Exchange, announced that it has successfully completed the subscription for USD$2m at a price of USD$1 per share from PT Media Nusantara Citra Tbk ("MNC") along with a term sheet with another party for a USD$2m convertible facility, to be completed within 20 days.
MNC is one of the largest conglomerates in Indonesia with interests in media, financial services and property. The group is best known for its media assets such as RCTI and MNCTV, which combined dominate television and radio in broadcast reach and production in Indonesia.
The announcement follows the company's progress with its Achiko Platform and Teman Sehat, the group's vertical market application as a solution for governments to respond to the Covid-19 pandemic. This public health crisis calls for innovation in testing and telemedicine ecosystems. Achiko intends to continue with its other platform applications in consumer credit, games and entertainment and other services later in the year based on market conditions.
The funds will be applied to the marketing and promotion of the platform and for general working capital.
Established in 2018, Achiko (ISIN KGY0101M1024) is a platform company listed on the SIX Swiss Stock Exchange (ACHI:SWX) which owns and operates technologies that Enable consumers to Pay, offers consumers Things to Do, and provides Reasons to Stay through a range of engaging social features. Social and gaming features will be added to the platform beginning in Q3 and Q4 of 2020.
By refining its technology and operations stack in Indonesia first with subsequent expansion to other countries, the company then aims to deliver services across a range of industry verticals such as Game Payments, Buy Now / Pay Later, ECommerce Services and others directly and indirectly.
Achiko has significant shareholders such as MNC Group, the largest media company in Southeast Asia. Its shareholder base also includes MOX, China's largest venture capital company focussing exclusively on the mobile sector and one of the three largest global VC companies in this field.
Further information can be found at investor.achiko.com.
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This communication expressly or implicitly contains certain forward-looking statements concerning Achiko Ltd. and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Achiko Ltd. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Achiko Ltd. is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.