Edison issues initiation on MoneyHero (MNY)

Money saver in South-East Asia

Edison Investment Research Limited Edison issues initiation on MoneyHero (MNY): Money saver in South-East Asia 13-May-2024 / 17:08 GMT/BST The issuer is solely responsible for the content of this announcement.

London, UK, 13 Mai 2024

 

Edison issues initiation on MoneyHero (MNY): Money saver in South-East Asia

MoneyHero is a leading South-East Asian personal finance aggregator and comparison platform, covering the full suite of personal finance products. Its goal is to educate and empower consumers on personal finance through engaging content and rewards on financial products. The company partners with leading local and global financial institutions to ensure it has the most attractive products and offers for its user base. Management has ambitious plans to grow market share and attractive product verticals, such as insurance. Having raised c $87m in net proceeds from a deSPAC transaction in October 2023, the company paid down all debt and had a net cash position of $68.6m at end FY23, meaning it is well capitalised to fund the acceleration in growth.

MoneyHero is trading at a substantial discount to its peer group, many of which are more mature businesses. This is not wholly unexpected as it is loss making and has a limited trading history. Our DCF-based valuation of $4.95 indicates an attractive upside to the current share price.

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Dissemination of a CORPORATE NEWS, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

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End of Announcement - EQS News Service

1901895  13-May-2024 

The MoneyHero Stock at the time of publication of the news with a fall of -4,21 % to 1,868USD on NYSE stock exchange (11. Mai 2024, 02:00 Uhr).