Business
SIBJ Capital enters Investment Agreement
SIBJ Capital enters Investment Agreement.
About this update from Icfg Limited
[{"type":"text","content":"\n\n1 April 2025\nICFG LIMITED\n(\"ICFG\" or the \"Company\")\nSIBJ Capital enters Investment Agreement\n \nICFG 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.\nSIBJ 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.\nInsur 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.\nThe Company will make further announcements in due course, as appropriate.\n \n\n\n\n\nFor further information please contact:\n \nICFG Limited\n\n\n \n \nVia IFC\n\n\n\n\nOliver Fox, CEO\n \n\n\n\n\nStrand Hanson Limited (Financial Advisor)\nRory Murphy / Abigail Wennington / David Asquith\n \n\n\n+44 (0) 207 409 3494\n\n\n\n\nNovum Securities (Broker)\nJon Bellis / Colin Rowbury\n \n\n\n+44 (0) 207 399 9400\n\n\n\n\nIFC Advisory Limited (Financial PR and IR)\n\n\n+44 (0) 203 934 6630\n\n\n\n\nTim Metcalfe\nZach Cohen\n\n\n\n\n \n\n LEI: 213800C7BC4EZQAEBT76\n \n \n\n","length":4427,"tagName":"div"}]