N2N proposes private placement

PETALING JAYA: It looks like N2N Connect Bhd’s financial technology (fintech) strategy just got a bit more concrete. It has proposed to undertake a private placement of 10% or 52.04 million new N2N shares to Japan’s SBI Holdings at RM1.25 per placement share.

While SBI Holdings is in the financial services sector, it is active in the cryptocurrency space, having just launched its own cryptocurrency exchange earlier this week. It has also been in partnership with US-based cryptocurrency player Ripple, over the last two years.