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Finablr Investors - FIN

Finablr Investors - FIN

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Finablr Plc FIN London Ordinary Share GB00BJ7HMW26 ORD 1P
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 10.48 01:00:00
Open Price Low Price High Price Close Price Previous Close
10.48 10.48
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Top Investor Posts

arfaday: I think investors have lost all in finibir, unless someone knows different
99bjd: My Interactive Investor account now showing -100% with value of zero
melpan: For those of you enquiring, this will never relist as there is no equity value left. If you read the latest restructuring release, the priority and seniority goes to the new investors and/or the previous debtholders (depending upon which part of the business it relates to) and they have clearly stated that they will not get paid in full. Hence being equity and the bottom of the pole, there will never be any money left to flow down to us. The way this has been handled is scandalous. If there was a viable business (which there clearly is) then they could have explored a massive rights issue as well as debt financing. At least that way, existing shareholders have a) Some liquidity and b) A chance to minimise losses. This all smells a bit funny as we don't know what the type of fraud there was, how much, whether there will be any chance of recovery etc etc It seems they pulled the trigger and wiped out shareholders without giving us a chance to investigate and/or sue for potential recoveries from management and/or auditors. Am down a hefty five figures on this. If we were in the US I would have happily - and easily - signed up to a class action lawsuit. In the UK the law and regulation - esp the FCA - are completely incompetent and against the smaller PI unfortunately. If anyone knows of a shareholder action or rights group which would help us pursue the previous management AND the auditors, please post on here. I will participate. At the end of the day the way I see it, its pretty simple, if the shareholders are wiped out then so should the previous management - ie they should be declared bankrupt and their assets seized. Not sure why this avenue has not been discussed in any of the company releases. The administrators just seem happy to restructure and move on. The Skadden appointment is useless to shareholders as they've already made the decision to wipe us out by restructuring. This is because they are unlikely to find MORE money than was embezzled !!!!! So anything recovered will all go to creditors and they will be happy because they could get paid their losses in full AND own a share in the future business. Whereas, we have no participation in the future business at all.
aeg90: hello, fairly new to investing and ADVFN hence advanced apologies to all of you if this post sounds strange. I have a small amount invested in finablr as I thought the price fluctuation was an over reaction of cyber attack + nmc. Only found out about the accounting issue's later on by then it was suspended. With Travelex's latest update, where does that leave a finablr investor? Finablr site still has travelex brand on them - however some of the posters seem to suggest that Travelex control has fully gone to the creditors? Appreciate if you experts could shed some light on this. Also as ACV74 asked, very much interested in finding out with this deal (if finablr no longer owns Travelex) what's latest on debt?
farrugia: Its a zero hxxps://;utm_campaign=buffer nothing will be left for shareholders. Debt investors trying to take control?
zen12: Coming back from the dead? Exchange is part of the Finablr Group, which listed on the London Stock Exchange last year in a deal valuing it at over £1.2bn (Dh5.4bn). The company also recently announced liquidity problems and the discovery of previously unreported debts of $1bn, bringing its total debt to $1.3bn. Its shares have been suspended from trading since March.Mr Shetty, who remains as co-chairman and majority shareholder of the group, said he is confident about its future and is working on bringing in external investment."We are working on it – on getting a good investor," he said.Asked how long this would take, he said "within a month, maximum".
h2owater: From LSE bb:MSKAToday 16:09Contacted Investor relationsFrom the website. Got a response... working hard to solve this, can?t give specific details, not too sure when suspension will be lifted and a comment about ensuring equity investors don?t lose out. So all in all standard response I expected however let?s see what really comes out. Good luck allP.s investor relations I contacted is on the FIN website
mister md: new FT article 5th Feb: NMC Health founder eyes a return to embattled group 77-year-old entrepreneur BR Shetty ‘looking to buy out Emirati partners’ Mr Shetty stepped down as NMC’s chief executive in 2017 but remains the largest shareholder. On top of the NMC share price decline, he has also been hit by a sharp decline in the value of his other main business, financial services group Finablr, which has fallen more than 60 per cent in the past few weeks. One person briefed on Mr Shetty’s strategy said the businessman had made the Abu Dhabi government aware of a potential plan that would see him partner with new investors to buy the shares owned by Emirati investors Saeed al-Qebaisi and his relative Khalifa al-Muhairi, who control a stake of about 24 per cent in NMC.
bulltradept: I/C has it as a sell: Shares in Finablr (FIN)* plunged by a quarter on the news that stock representing 56 per cent of the group has been pledged as collateral for borrowings. The 392m shares have been committed by BRS Ventures & Holdings Limited – a company owned by Dr Bavaguthu Raghuram Shetty, who founded Finablr as well as NMC Health (NMC). The latter has recently been the subject of a Muddy Waters' short report. FIN:LSE Finablr PLC 1mth Today change -9.81%Price (GBP) 74.50 The borrowings raised by BRS Ventures date from March 2016, and were used to refinance an acquisition facility relating to the purchase of currency exchange business Travelex in January 2015. The original amount of the borrowing has been reduced by sums received from Finablr’s initial public offering (IPO) in May 2019, and other cash flows of entities belonging to the BRS group. Finablr’s market value hit a new low in response. Sentiment had already been knocked by the newsflow around NMC, not to mention the disposal of 40.5m shares in the group by two investors earlier this month, in a transaction designed to reduce the sellers’ “outstanding indebtedness”. The investors in question – Saeed Mohamed Butti Mohamed Khalfan Al Qebaisi and Khaleefa Butti Omair Yousif Ahmed Al Muhairi – simultaneously offloaded 31.2m shares in NMC. A cyber-attack also hit Travelex on New Year’s Eve, leading it to take all of its systems offline. Finablr’s other brands were unaffected. In a statement following the announcement about BVR’s share pledge, Finablr said that its operations continue to function as normal. It added that the cyber incident is in the process of being resolved, has no impact on its 2019 results and is not expected to have a material impact on its performance in 2020. The group has sought clarification from BRS about the pledge disclosures. “BRS has reassured the company around the level of security represented by its shareholding in Finablr and the discussions that it has had with its banking group around repayment/refinancing of the loan as well as the other collateral sources should these be required”. IC View At 94p, Finablr’s shares trade well below their 175p flotation price. This usage of stock as security for a loan just adds to the bad news that has emerged in recent weeks - albeit co-chairman Michael Tomalin did buy 30,000 shares for £28,035 on 28 January. We’d be inclined to steer clear for now. Sell. Last IC view: Hold, 174p, 20 Aug 2019 *This article was updated on 28/01/2020
alamaison5: Finablr shares fell to a record low after its billionaire founder pledged almost his entire stake in the business as security against a loan. Bavaguthu Raghuram Shetty, who owns almost 63 per cent of Finablr, offered up a 56 per cent stake as collateral for a loan taken out by his BRS Ventures & Holdings vehicle five years ago, which it used to buy Travelex. Finablr’s shares lost 35¾p, or 27.4 per cent, this morning to sit at 95p, its lowest price since it floated last spring. Before the release of a report by the short-seller Muddy Waters last month the shares had been changing hands for more than 200p. The company’s torrid morning helped to spare the blushes of Marston’s, which had been sitting at the bottom of the FTSE 350 after its share price fell 8½p, or 7.3 per cent, to 108½p. Analysts rushed to cut their profit forecasts for the pubs group after it warned that the upcoming increase in the minimum wage would put a dent in its bottom line. From April, hourly pay rates for over-25s will rise by 6.2 per cent to £8.72. That was higher than Marston’s expectations of a 4.5 per cent rise. As a result the company cautioned that costs in the second half of its financial year, which runs until the end of September, would be up to £3 million more than originally estimated. RBC, the Canadian investment bank, said that Marston’s would be able to offset some of that cost increase with “selective price rises”, although it probably would not be able to introduce those until next year. The wider market remained unscathed, with the FTSE 100 surging 116.52 points, or 1.6 per cent, to 7,624.19. The mid-caps also got in on the action, pushing the FTSE 250 higher by 191.65 points, or 0.9 per cent, to 21,732.21. Sentiment among investors was lifted by the World Health Organisation’s assessment of the coronavirus outbreak in China as not yet a global emergency. London stocks also received a boost from the latest flash purchasing managers’ index, which came in well ahead of expectations and showed that the British economy had climbed to a 16-month high after last month’s election. The market is pricing in a 54 per cent chance that the Bank of England will nudge rates down to 0.5 per cent. This weighed on sterling, which dropped to below $1.31 against the dollar. Contrarian investors, presumably part of the 46 per cent, took a gamble that Mark Carney and co would leave rates unchanged and backed Royal Bank of Scotland, which analysts reckon would be the most exposed to any cut. Shares in RBS, which is majority-owned by the government, moved 7½p, or 3.4 per cent, higher to 226½p.
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