This announcement is a very positive one. The company is expanding at a rapid rate, it has more users than Australia has population. Tech stocks like these are not always well understood on the Australian market, i believe the natural home should be US or Hong Kong where it will trade on a much higher multiple.
To expand at the pace they need they probably need some cash from some strategic institutional investors.
They will have enough cash to expand rapidly through intense marketing and convert even more of the 320 million people that have the App on their phone as it is in bedded in the Chinese banks Apps.
Overall the share price should benefit over the coming months from this review process and raising
NNW Price at posting:
62.0¢ Sentiment: Buy Disclosure: Held
