MyBucks S.A completes private placement and bolsters capital
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MyBucks S.A. completes private placement and bolsters capital
- Private placement of 1.3 million new shares successfully completed
- Gross proceeds of EUR 11.7 million to be used to reduce overall refinancing costs, increase lending volume and to drive business growth
Luxembourg, February 9, 2018 – Frankfurt-listed Fintech MyBucks S.A. (“MyBucks” or the “Company”, ISIN: LU1404975507, Bloomberg: MBC:GR) has announced that it has successfully completed the increase the Company’s share capital from EUR 11,665,613 by EUR 1,300,000 to EUR 12,965,613 by issuing 1.3 million new shares (the “New Shares”), which will be fully entitled to dividends of MyBucks for the financial year commencing on 1 July 2017.
Hauck & Aufhäuser Private Bankers acted as Sole Bookrunner of the transaction. The proceeds from the capital increase will be used to pay back mezzanine capital with high interest rates. This means that overall refinancing costs of MyBucks will drop decidedly from current levels.
MyBucks Deputy CEO Tim Nuy said: “We are very excited about the continued support of our investors. On the back of this placement, we will focus on further reducing our refinancing costs and hence foster future growth.”
MyBucks S.A. (WKN: A2AJLT, ISIN: LU1404975507, Ticker Symbol: MBC:GR) is a FinTech company based in Luxembourg that delivers seamless financial services through technology. Through its brands GetBucks and GetSure the company offers impact loans, unsecured consumer loans, banking solutions as well as insurance products to customers. MyBucks has experienced exponential growth since its inception in 2011 and today has operations in twelve African and two European countries as well as in Australia. MyBucks aims to ensure that its product offering is accessible, simple and trustworthy, in comparison to traditional, non-technological methods, ultimately working towards enhancing the benefits to the customer. The MyBucks’ product offering enables customers to manage their financial affairs easily and conveniently.
Discover more at: www.mybucks.com