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BWN Bowen Fintech Plc

12.00
0.00 (0.00%)
23 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Bowen Fintech Plc LSE:BWN London Ordinary Share GB00BMYX7295 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 12.00 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Management Consulting Svcs -248k -0.0045 -26.67 6.6M
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 12.00 GBX

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Date Time Title Posts
11/1/202413:51Bowen Fintech PLC1

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Posted at 23/4/2024 09:20 by Bowen Fintech Daily Update
Bowen Fintech Plc is listed in the Management Consulting Svcs sector of the London Stock Exchange with ticker BWN. The last closing price for Bowen Fintech was 12p.
Bowen Fintech currently has 55,000,000 shares in issue. The market capitalisation of Bowen Fintech is £6,600,000.
Bowen Fintech has a price to earnings ratio (PE ratio) of -26.67.
This morning BWN shares opened at -
Posted at 11/1/2024 13:51 by hedgehog 100
22/12/2023 07:41 UK Regulatory (RNS & others) Bowen Fintech PLC Proposed Acquisition and Suspension of Trading LSE:BWN Bowen Fintech Plc

"Proposed Acquisition and Temporary Suspension of Trading in the Company's Ordinary Shares

Bowen (LSE: BWN), a special purpose acquisition company formed to acquire businesses in the technology innovations sector with a focus on the financial services industry, is pleased to announce that it has signed conditional, non-legally binding heads of terms to acquire 93.49 per cent of the issued share capital of MINNADEOOYASAN-HANBAI Co., Ltd ("MOH") ("Acquisition").

About MOH

MOH is a leading crowdfunding services platform in Japan and solution provider for investors seeking returns from investment into real estate. MOH was incorporated in 1998 with its head office in Tokyo, and is regulated under the Real Estate Specified Joint Venture Act. It commenced crowdfunding services in 2007.

In the last 16 years, MOH has arranged over JPY 217 billion (c. GBP1.3 billion) in capital raising from the Japanese market, with approximately JPY 62 billion (c. GBP378 million) raised in its financial year ending 31 March 2023.

MOH is majority owned by Kyosei Bank Co., Ltd ("KBC"), a privately owned company in Japan, and provides crowdfunding services to a property holding and management company within the same corporate group as KBC. This provides MOH with a proprietary pipeline of projects to facilitate funds for, and (where it has the resources to do so) occasionally MOH itself may participate in, the acquisition of land for development.

In addition to traditional real estate asset classes such as residential and commercial, MOH is seeking to facilitate funding for technology-driven commercial projects, such as cold-chain logistics facilities, state-of-the-art medical facilities and the revival of traditional cultural parks. MOH intends to participate in building cutting-edge cold-chain logistics infrastructure in Japan and expects to replicate this model in ASEAN countries and beyond in the future as part of its growth strategy.

MOH is profitable, reporting EBITDA of JPY 519 million (c. GBP3.2 million) on revenues of JPY 5.6 billion (c. GBP34.3 million) in the year to 31 March 2023. In the six-month period to 30 September 2023, MOH management accounts reported (unaudited) EBITDA of JPY 2.1 billion (c. GBP11.6 million) on revenues of JPY 4.9 billion (c. GBP27.8 million). Unaudited net assets as at 30 September 2023 were JPY 4.8 billion (c. GBP26.4 million).

The directors of MOH are of the opinion that a listing by way of a reverse takeover of Bowen by MOH (the "Enlarged Group") will enhance its brand and profile in Japan and internationally, enable access to additional real estate portfolios internationally, thus diversifying risk, and access to fresh equity capital in the future to accelerate its growth strategy, particularly in the area of technology-related real estate.

The listing will also support MOH in attracting and retaining senior professionals both locally in Japan and internationally. Following the Acquisition, it is the intention of the Enlarged Group to grow its presence in the UK.

The Acquisition

The Company has entered into conditional, non-legally binding heads of terms with MOH and KBC to acquire 93.49 per cent of the issued share capital of MOH from KBC for a consideration of approximately GBP34.47 million to be satisfied through the issue of new ordinary shares of 1p each in the Company ("Ordinary Shares"), at a price of 15p per new Ordinary Share (the "Offer Price"). The Offer Price represents a premium of 25 per cent to the closing middle market price of 12 p per Ordinary Share on 21 December 2023, being the closing middle market price the day prior to the release of this announcement. ...

It is currently anticipated by the directors of Bowen that on re-admission the market capitalisation of the Enlarged Group would be approximately GBP42.72 million, based on the Offer Price, with KBC holding approximately 80.7 per cent of the issued share capital of the Enlarged Group and existing Bowen shareholders holding approximately 19.3 per cent of the issued share capital of the Enlarged Group.

Subject to review of the Enlarged Group's working capital, it is not intended that new capital will be raised as part of the Acquisition and re-admission. ..."
Bowen Fintech share price data is direct from the London Stock Exchange

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