24th Mar 2026 14:21
(Alliance News) - MobilityOne Ltd on Tuesday said its long-coming joint venture with Super Apps is close to happening as part of a larger merger, sending shares soaring.
MobilityOne shares were up 72% to 10.30 pence each in London on Tuesday afternoon.
The Kuala Lumpur, Malaysia-based e-commerce payment solutions provider said that Technology & Telecommunication Acquisition Corp and Tete Technologies Inc filed a definitive proxy prospectus with the US Securities & Exchange Commission to hold an extraordinary general meeting on March 30 to approve the merger with Super Apps Holdings Sdn Bhd.
The extraordinary meeting was previously expected to be held on March 26.
The merger, an all-shares deal worth USD1.10 billion announced for the first time back in 2022, will see Super Apps becoming a New York-listed company under the combined name Bradbury Capital Inc.
In turn Super App entered a share sale agreement with MobilityOne Sdn Bdh, to purchase 60% of its ownership in its subsidiary OneShop Retail Sdn Bhd prior to the larger deal with Tete taking place. MobilityOne Sdn Bdh is in turn a subsidiary of MobilityOne Ltd quoted on the AIM in London.
The agreement between Super App and MobilityOne will see a MYR60.0 million, or GBP11.3 million, cash payment structured in two tranches of MYR40.0 million within 14 days of the completion of the merger between Super Apps and Tete, and a MYR20.0 million payable within 180 days.
Additionally, MobilityOne is eligible to receive MYR20.0 million worth of Tete shares contingent on achieving at least USD125 million of annual revenue in 2026.
By Martin Miraglia, Alliance News reporter
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