News blog
MobilityOne Ltd
- BY: Andrew Hore |
- POSTED: 12/11/2017 |
Malaysia-based e-commerce payments services provider MobilityOne Ltd is acquiring 55% of Mobility I Tap Pay (Bangladesh) Ltd (MiTP) for £5,000.
MobilityOne has already entered into a partnership agreement with MiTP. MobilityOne supplies point of sales devices to MiTP and is involved in the company’s deal with Meghna Bank. Which launched the Tap‘nPay mobile financial services platform. So far, MiTP has more than 4,000 point of sales devices using the service.
MobilityOne will generate cash from the sale of point of sales devices to MiTP and it may use some of this cash to provide MiTP with working capital.
MobilityOne is trading at 3.63p a share, which values the company at £3.85m. There was cash in the bank of £2.39m at the end of June 2017. The interim pre-tax profit was £225,000.
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