Webdisclosure.com

Search

ACHIKO LTD. Achiko Ltd.: Achiko announces investment in EmpatKali to offer buy now, pay later services in Indonesia

Directive transparence : information réglementée

04/12/2019 07:00

DGAP-News: Achiko Ltd. / Key word(s): Agreement
Achiko Ltd.: Achiko announces investment in EmpatKali to offer buy now, pay later services in Indonesia
04.12.2019 / 07:00
The issuer is solely responsible for the content of this announcement.


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART) IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

Achiko announces investment in EmpatKali to offer buy now, pay later services in Indonesia

Zurich/Jakarta, 4 December 2019 - FinTech company Achiko Ltd. (ACHI:SWX) and EmpatKali announce their intention to license Achiko's digital financial platform to EmpatKali, to provide after-pay services on Achiko's digital financial platform offering in Indonesia.

Kenneth Ting, CEO of Achiko Ltd, said: "Our agreement with EmpatKali underlines our hyper-local strategy of investing in leading financial services products for our customers in each geographical region where we operate."

Users of EmpatKali's service will be able to use Achiko's future digital financial services platform as a payment channel for payments and users of Achiko's app will be able to access EmpatKali's after-pay service, subject to meeting qualifying conditions.

As part of this agreement, Achiko Ltd. is investing USD 100,000 in EmpatKali through a convertible note.

Jamie Camidge, CEO of EmpatKali, said: "EmpatKali is pleased to be partnering with Achiko to offer our zero-interest buy now, pay later service to a wider group of customers in Indonesia who are looking for transparent, simple instalment products."

EmpatKali intends to become a participant of Achiko's planned financial services platform, which is a central part of Achiko's strategy. Achiko intends to bolt the financial services platform into its payment services in Indonesia, use it as an anchor product in Europe, and believes that the suite of services (including consumer credit, vouchers, offers, games services, etc.) may be relevant to broader Asia, Europe and beyond.

About Achiko
Achiko is the holding company of the Mimopay and Kryptonite businesses. The group has branch offices in Indonesia, Hong Kong, Singapore and South Korea.
Achiko has an experienced management team which has a track record building internationally recognised digital businesses and has also implemented them for companies like Disney, TimeWarner (now WarnerMedia), Samsung, Kakao, Leon Entertainment and many others.
Achiko has significant shareholders such as MNC Group, Southeast Asia's leading media conglomerate, and SOSV - a U.S.-headquartered venture capital firm whose net IRR over the last 20 years puts it in the top 10% of all venture funds worldwide. The company graduated from MOX, an SOSV accelerator for cross-border mobile internet, in 2018.

Further information can be found on www.achiko.co.

About EmpatKali
EmpatKali is a buy now, pay later business, registered and monitored by Oritas Jasa Keuangan (OJK), Indonesia's financial services authority. EmpatKali offers Indonesian consumers to buy their favourite fashion and lifestyle brands and pay later. Their always 0% interest instalment solution is ideally suited to the 85% of Indonesian Muslims who may have a reluctance to use financial products which charge interest.

Further information can be found on www.empatkali.co.id

Press Contact
Germany and Austria
Axel Mühlhaus / Dr. Sönke Knop
edicto GmbH
E: achiko@edicto.de
T: +49 69 90 55 05-51

Switzerland
Marcus Balogh
Farner Consulting Ltd.
E: achiko@farner.ch
T: +41 44 266 67 67


Disclaimer
This publication constitutes neither an offer to sell nor a solicitation to buy securities of the Company and it does not constitute a prospectus or a similar communication within the meaning of article 652a, 752 and/or 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange.

This communication is being distributed only to, and is directed only at (i) persons outside the United Kingdom, (ii) persons who have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth entities, and other persons to whom it may otherwise lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as "Relevant Persons"). Any investment or investment activity to which this communication relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Any person who is not a Relevant Person must not act or rely on this communication or any of its contents.

This communication does not constitute an "offer of securities to the public" within the meaning of Regulation 2017/1129 of the European Union (the "Prospectus Regulation") of the securities referred to in it (the "Securities") in any member state of the European Economic Area (the "EEA"). Any offers of the Securities to persons in the EEA will be made pursuant to an exemption under the Prospectus Regulation from the requirement to produce a prospectus for offers of the Securities.
The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States or to US persons (as such term is defined in Regulation S under the Securities Act) unless the securities are registered under the Securities Act, or an exemption from the registration requirements of the Securities Act is available. The issuer of the securities has not registered, and does not intend to register, any portion of the securities in the United States, and does not intend to conduct a public offering of securities in the United States.



04.12.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Achiko Ltd.
West Bay Road, Grand Pavillion Commercial Centre
KY1-1209 Grand Cayman
Cayman Islands
ISIN: KYG0101M1024
WKN: A2PQNE
Listed: Regulated Unofficial Market in Frankfurt; SIX
EQS News ID: 927465

 
End of News DGAP News Service

927465  04.12.2019 

fncls.ssp?fn=show_t_gif&application_id=927465&application_name=news&site_id=symex

04/12/2019 07:00
28/11/2019 17:30
11/11/2019 11:01
08/11/2019 09:28
12/06/2019 08:30