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Bianor Holding AD [BNR] |
Bianor notified of corporate actions in its largest investment (NEUTRAL) |
Bianor Holding (BNR) announced that the U.S. private company Triller Hold Co LLC, in which the company holds 0.22% of the capital with BGN 6.3m book value, entered into a merger agreement with AGBA Group Limited (NASDAQ: AGBA). Upon successful completion of the merger, Bianor’s shareholding in Triller is expected to be exchanged for 1 204 668 ordinary shares (0.237% stake) of AGBA. The statement also highlighted that the transaction is subject to regulatory approval and that BNR will have a lock-up period of 165 days for the AGBA shares in the event of successful finalization of the transaction. Note that according to the presentation provided by AGBA, the total value of the post-merger company is targeted at USD 4bn, which translates into BGN 17.4m value of BNR stake in it. |
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