Animoca Brands delays IPO plans, suspends merger talks with Currenc
Source: CoinDesk ·
From the source
Talks between the two kicked off late last year, with plans for the former to own 95% of the merged company. Animoca Brands suspended discussions for a proposed reverse merger with Currenc Group Inc. (CURR), which would have seen the digital asset investment company secure a Nasdaq listing. The two companies decided the proposed timeframe to finalize the transaction didn’t align with their respective goals, Animoca announced on Tuesday . Talks between Animoca and Currenc kicked off late last year , with plans for the former to own 95% of the merged company. Hong Kong-based Animoca said it “remains fully committed” to listing on a major public exchange, with co-founder Yat Siu adding it will “continue to pursue optimal routes” to a public listing. Animoca Brands’ portfolio spans decentralized finance (DeFi), AI, non-fungible tokens (NFTs) and gaming, with advisory services forming an increasing chunk of its revenue stream in recent years. Currenc shares closed at $3.23 on Monday,…