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Findi Limited (ASX:FND)

ALERT: Price-sensitive ASX Announcement for FND
Current share price for FND : $0.405 -0.765 (-65.38%)+
Announcement
Release
29 Jan 2026 5:09PM
Price at Release
$1.170
Full Release
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Summary
Findi Limited (FND) provided detailed responses to the Australian Securities Exchange (ASX) regarding discrepancies and concerns raised in their investment dealings with Transaction Solutions International (TSI) and Nova Global Opportunities Fund. The ASX queried FND on its valuation bases, compliance with listing rules, and the implications of its strategic investment plans. FND explained the basis for its valuations using forward EV/EBITDA metrics, while also addressing shareholder concerns about the potential $97 million valuation of securities being issued to Nova Global in comparison to a forecasted valuation of up to $900 million for TSI. FND affirmed its compliance with Listing Rule 3.1 and assured that responses were authorized by its board. It also highlighted that due to ongoing litigation with a minority shareholder, the final ownership percentages were subject to change, and confirmed that shareholder approval would be sought for transactions involving major assets. FND’s strategic shift towards fintech was underscored, focusing on its investments in TSI and BankIT to align with digital banking growth.
Key Points
  • ASX queried FND about valuation bases and compliance with listing rules.
  • FND detailed its use of forward EV/EBITDA for valuations and its strategic pivot to fintech.
  • Discrepancies existed between the $97 million valuation for Nova Global's securities and the $900 million forecast for TSI.
  • FND confirmed compliance with Listing Rule 3.1 and that responses were board-authorized.
  • Ongoing litigation with a TSI minority shareholder could impact final ownership stakes.
  • Shareholder approval will be sought for transactions involving major assets.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.