1st Apr 2025 15:31
1 April 2025
ICFG LIMITED
("ICFG" or the "Company")
SIBJ Capital enters Investment Agreement
ICFG Limited is pleased to announce that its Mongolian subsidiary, SIBJ Capital, has entered into an investment agreement with Insur LLC ("Target"), a leading InsurTech company in Mongolia. Established in 2018, Insur LLC specialises in the development of digital insurance systems, advancing the modernisation of Mongolia's insurance industry.
SIBJ Capital will invest a total of MNT 7 billion (USD 2,007,105.15) in Insur LLC to acquire a 51% equity stake. The investment will consist of MNT 1 billion (USD 286,729.31) in common shares and MNT 6 billion (USD 1,720,375.84) in preferred share equity.
Insur LLC will focus on digital-based insurance and pension savings business. This strategic investment aligns with ICFG's commitment to establishing its presence in the insurance sector, particularly within the InsurTech space, as part of its broader mission to provide accessible financial services through fintech innovation.
The Company will make further announcements in due course, as appropriate.
For further information please contact:
ICFG Limited |
Via IFC |
Oliver Fox, CEO
| |
Strand Hanson Limited (Financial Advisor) Rory Murphy / Abigail Wennington / David Asquith
| +44 (0) 207 409 3494 |
Novum Securities (Broker) Jon Bellis / Colin Rowbury
| +44 (0) 207 399 9400 |
IFC Advisory Limited (Financial PR and IR) | +44 (0) 203 934 6630 |
Tim Metcalfe Zach Cohen | |
LEI: 213800C7BC4EZQAEBT76
Related Shares:
Icfg Limited