iFast’s proposed acquisition of Financial Alliance stake could be more exciting than it looks
The relatively modest investment could burnish the growth strategy of iFast, which is on track for a multi-year growth trajectory
[SINGAPORE] When digital banking and wealth-management platform iFast Corporation announced after market close on Monday (Jan 5) its plan to acquire a 30 per cent stake in Financial Alliance Corporation (FA Corp), it barely registered a blip in the market.
Shares of iFast edged up 0.7 per cent on Jan 6 – the day after – falling far short of the 1.3 per cent rise of the benchmark Straits Times Index (STI) the same day.
FA Corp is the holding company of Singapore-based Financial Alliance, a financial advisory firm with over 450 representatives; it is also the majority shareholder of FA Advisory, a licensed financial planning and advisory firm in Malaysia.
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