MOMENTUM FIN (01152) plans to acquire a certain number of shares of PayCools Cayman Limited for $3 million.

MOMENTUM FIN (01152) announced on March 11, 2026 (after trading hours) that the company has entered into a memorandum of understanding with the target company, PayCools Cayman Limited. According to this, the company intends to subscribe for or acquire a certain number of shares of the target company. Apart from certain provisions related to confidentiality, validity period, costs and expenses, and regulatory laws, the memorandum of understanding is not legally binding on the company and the target company. The proposed cost of the share acquisition will be calculated based on the target company's market value of $150 million. The proposed cost of the share acquisition will be $3 million, to be paid at completion through the issuance and distribution of new shares. The target company is primarily engaged in cross-border receivables and local payment solutions, dedicated to providing customized financial solutions for clients. The company is rooted in emerging markets, with main service regions including the Philippines, Malaysia, Thailand, Indonesia, Latin America, and the Middle East, as well as other countries. The company plans to expand its e-commerce products and diversify its business model to enhance low-cost fund circulation and provide convenient payment solutions for cross-border e-commerce enterprises. The target company can provide cross-border payment solutions for e-commerce enterprises, supporting multiple currencies and payment methods. Therefore, the contracting parties plan to jointly develop e-wallet products, share transaction-related resources, and exchange shares to strengthen mutual trust and cooperation, in order to establish a long-term stable strategic partnership.