Raiz Invest finalises exit of Indonesian operations

ASX-listed Raiz Make investments, a number one funding app, have introduced that it has finalised the exit of its Indonesian Joint Enterprise operations.

In February 2024, Raiz introduced that its subsidiary Raiz Make investments Australia Restricted (RIAL) entered right into a binding Conditional Share Buy Settlement (CSPA) with senior administration of the Indonesian enterprise, to switch RIAL’s whole holding within the Joint Enterprise.

RIAL has now accomplished the transaction contemplated by the events beneath the CSPA, following obligatory approvals being obtained, together with at an Extraordinary Normal Assembly of Shareholders in Indonesia.

The corporate confirms there was no materials divergence from the estimated ‘one-off’ prices incurred throughout the exit in Q3 FY24, which had been beforehand disclosed to the market at AUD$700,000.

Brendan Malone (pictured), Raiz Make investments Managing Director and CEO stated, “A transaction involving the switch of operations to senior native administration in Indonesia was a satisfying final result and in one of the best pursuits of the enterprise’s a number of native stakeholders together with clients, workers and suppliers. We’ve now accomplished a well timed, clear and orderly exit of the Indonesian operations, and our focus is now on scaling our core Australian enterprise.”