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Just looking at this one, wanted to check a few things:
MBO has a Mcap of under £8m, with cash of £4.72m (end Jun 22)
- They will receive (subject to disposal merger between Super Apps and TETE, expected this year) £7.53m within 14 days of the merger, with a further £3.76m within 6 months. This will give cash of over £12m, rising to almost £16m after the 6 months
- They are getting shares worth £3.76m if they can move OneShop from a business generating revenue of £2.5k/annum up to the giddy heights of £105.4m (but this revenue is expected to be driven by Super Apps, with no material impact on MBOs normal ops). They will then sell the shares.
- They also retain 40% of the revenue generated as they’re selling a 60% stake. So that’s at least another $40m to add to the $113m they made in H1 2022.
- Super Apps’ merger with TETE will create a listed company worth $1.1B.
MBO has a Mcap of under £8m
If this goes ahead, it feels transformational and a likely takeover target for the new TETE company.
Sorry but if they have annual revenues of £2.5k, essentially nothing, how are they giving MBO around £12m and why? Whats in it for them and why on earth would mbo get that money paid to them... and from where?! Thanks for your help
1Shop is a subsid of MBO. Super Apps are paying MBO once they merge with TETE; they appear to be using 1Shop as a means to gain access to MBO’s IP.
“1Shop, which is incorporated in Malaysia and is a wholly-owned subsidiary of M1 Malaysia is currently focused on retail sales of consumer products. In the financial year ended 31 December 2021, 1Shop reported revenues of RM13,007 (equivalent to c. GBP2,449) and generated a loss before tax of RM6,024 (equivalent to c. GBP1,134).“
There’s a good article in this link:
https://www.globenewswire.com/news-release/2022/10/19/2537503/0/en/Super-Apps-Holdings-to-Become-a-Public-Company-Through-Merger-with-Technology-Telecommunication-Acquisition-Corporation.html
“ MobilityOne currently has ownership of the intellectual property that OneShop Retail uses in its operations and, in connection with the closing of the Business Combination, MobilityOne will grant OneShop Retail a long term license for use of such intellectual property. MobilityOne’s technology platform is flexible, scalable and has been designed to facilitate cash, debit card and credit card transactions (according to the device) from multiple devices while controlling and monitoring the distribution of different products and services.”
So basically, the money comes from TETE who IPO'd earlier this year and have $117m odd to acquire companies in the technology and telecommunications sector in Malaysia. We have the technology they want............and assuming it all goes through we'll have double or more of our market cap in cash in the bank.
and where could this lead to for future expansion deals with Tete.....and others......and could we be bought out???!
Worst case scenario is deal doesn't happen but our profile will be noticed and another deal will come along...all in early 2023!
WOW! Exciting or what?
I was guilty of selling out at 5.75p the other day.......and not taking the time to realise that was not the thing to do.....so I've had to give back £2k of my profit to rebuy in dearer today!
Exactly that - MBO have the tech & scalability whilst Super Apps have the capital. The deal in itself is worth c19P (cash 11p & retained 40% of disposal 8P) to MBO whilst adding £40m rev next year with little expenditure. Surprised to see that there hasn't been a huge re-rate as i see MBO knocking on the £100m+ mcap in the short-term.
Bearing in mind we retain 40% ownership of our "non-core" 100% ownership of OneShop Retail this is the bit of Global News Wire communication that particularly excites IMO:-
" With operations based in Malaysia, Super Apps will have a geographic advantage for expanding into the ASEAN market
Super Apps will partner with MobilityOne Sdn. Bhd., a fintech technology company in the payment systems market in Malaysia. Together with OneShop Retail, the combined company is positioned to be a leading payments systems provider in the ASEAN market "
Across all nations of ASEAN, there is a population of over 622 million people. The region has one of the largest economies in the world, and it is believed that by 2050, it will have the 4th-largest economy in the world. It also has one of the world's largest labor forces, falling only behind India and China. The entire region stretches across over 1.7 million square miles.
Amazed this is still below 15p.
Don't think many have cottoned on yet