In today’s briefing:
- MUFG Seeks A Majority Stake In Mandala
- What’s Driving Bitcoin’s Rally?
- Kilde bags $1.1m to bankroll securities tokenization project
MUFG Seeks A Majority Stake In Mandala
- Mitsubishi UFJ Financial (MUFG US) and 92.7%-held Adira Dinamika Multi Finance (ADMF IJ) have entered into SPAs with key shareholders to acquire an 80.6% stake in Mandala Multifinance (MFIN IJ).
- MUFG and Adira appear to be paying IDR 3,297/share or IDR 7tn all-in. The SPAs are subject to regulatory approvals with completion expected in early 2024.
- Upon completion, MUFG will hold 70.6% in Mandala and Adira 10% in the Indo car/motorcycle loan lender. This will trigger a Mandatory Tender Offer for the remaining 19.4%.
What’s Driving Bitcoin’s Rally?
- Bitcoin briefly hit yearly highs over the weekend and is up 15% week-on-week.
- What’s driving this rapid surge in prices?
- While news of a Blackrock ETF filing is certainly a bullish catalyst, let’s see what the data says.
Kilde bags $1.1m to bankroll securities tokenization project
- Private debt platform Kilde has raised US$1.1 million in seed funding from investors including Big Sky Capital, Borderless Capital, AXL Ventures, and Algorand Foundation.
- The fresh funds will help the Singapore-based firm expand its private credit offerings and develop SafeBay, its securities tokenization project.
- Founded in 2019, Kilde caters to accredited and institutional investors by giving them access to private credit deals, which can yield annual returns of up to 13.5%. The company said that its investors have seen annual returns of 11.9%.
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